Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells $12,245,463.75 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher sold 68,315 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.25, for a total transaction of $12,245,463.75. Following the completion of the sale, the chief executive officer now owns 1,162,908 shares in the company, valued at approximately $208,451,259. This trade represents a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $178.70 on Monday. The company has a market cap of $102.51 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. The company has a 50 day moving average of $168.60 and a two-hundred day moving average of $163.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 12-month low of $132.93 and a 12-month high of $180.89.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $1.48 EPS. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange’s payout ratio is presently 39.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ICE. Vanguard Group Inc. grew its position in Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after purchasing an additional 712,179 shares during the last quarter. Geode Capital Management LLC boosted its position in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada boosted its position in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $1,196,258,000. Finally, Northern Trust Corp lifted its position in shares of Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after purchasing an additional 655,247 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Barclays increased their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.