Christopher Scott Edmonds Sells 11,303 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Intercontinental Exchange Stock Down 0.1%

Shares of NYSE:ICE opened at $154.00 on Friday. The firm has a market cap of $87.45 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.60 and a beta of 1.02. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The business has a fifty day simple moving average of $164.58 and a 200 day simple moving average of $164.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. Intercontinental Exchange’s payout ratio is 33.28%.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the stock. J. Stern & Co. LLP raised its stake in Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the period. Norges Bank bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,418,228,000. Viking Global Investors LP acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $777,926,000. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Finally, Sands Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after purchasing an additional 2,620,310 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ICE shares. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $195.40.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.