Insider Selling: Intercontinental Exchange (NYSE:ICE) President Sells $2,122,065.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares in the company, valued at $27,339,180. The trade was a 7.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of ICE opened at $152.31 on Friday. The firm has a 50-day simple moving average of $165.24 and a two-hundred day simple moving average of $165.51. The stock has a market cap of $86.49 billion, a PE ratio of 26.40, a P/E/G ratio of 1.59 and a beta of 1.02. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02.

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

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend 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 presently 36.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ICE shares. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $195.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ICE. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. State Street Corp increased its position in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley lifted its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after acquiring an additional 145,961 shares during the period. Finally, Wellington Management Group LLP grew 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 acquiring an additional 4,067,922 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.