Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells $26,883,000.00 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer now directly owns 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Intercontinental Exchange Stock Up 0.1%

Shares of NYSE:ICE opened at $178.70 on Monday. The firm’s 50-day moving average is $168.60 and its two-hundred day moving average is $163.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $132.93 and a 1 year high of $180.89. The firm has a market capitalization of $102.51 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays boosted their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.46.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the period. Spire Wealth Management increased its position in shares of Intercontinental Exchange by 56.7% in the fourth quarter. Spire Wealth Management now owns 721 shares of the financial services provider’s stock valued at $107,000 after buying an additional 261 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Intercontinental Exchange by 1.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 36,338 shares of the financial services provider’s stock valued at $5,415,000 after buying an additional 622 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Intercontinental Exchange by 135.3% in the fourth quarter. Y.D. More Investments Ltd now owns 713 shares of the financial services provider’s stock valued at $106,000 after buying an additional 410 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Intercontinental Exchange by 33.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,527 shares of the financial services provider’s stock worth $7,590,000 after purchasing an additional 12,700 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

About Intercontinental Exchange

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.