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

by · The Markets Daily

Intercontinental Exchange Inc. (NYSE:ICE – Get Free Report) insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares in the company, valued at $2,194,396.12. The trade was a 44.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intercontinental Exchange Stock Performance

ICE stock traded down $0.11 during trading on Friday, hitting $154.00. 3,370,554 shares of the company traded hands, compared to its average volume of 4,212,451. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a market cap of $87.45 billion, a PE ratio of 26.69, a P/E/G ratio of 1.62 and a beta of 1.02. The stock’s 50-day simple moving average is $164.76 and its 200 day simple moving average is $164.78. 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 – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company earned $1.52 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds have recently modified their holdings of ICE. Optivise Advisory Services LLC grew its stake in shares of Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after buying an additional 54 shares during the period. ICONIQ Capital LLC lifted its holdings in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 58 shares during the period. Mechanics Financial Corp increased its stake in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 60 shares during the last quarter. Finally, Ledyard National Bank raised its position in Intercontinental Exchange by 4.3% in the second quarter. Ledyard National Bank now owns 1,512 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ICE shares. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of $195.40.

Read Our Latest Research Report on ICE

About Intercontinental Exchange

(Get Free Report)

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.

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