Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Sells 3,848 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel now owns 48,480 shares of the company’s stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Intercontinental Exchange Trading Up 0.1%

Shares of ICE stock opened at $178.70 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $132.93 and a 12 month high of $180.89. The company has a market cap 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. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $168.60 and its two-hundred day moving average is $163.40.

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

Intercontinental Exchange Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on ICE. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $188.46.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Vanguard Group Inc. boosted its stake in shares of 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 valued at $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares in the last quarter. Royal Bank of Canada increased its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Finally, Northern Trust Corp boosted its position in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after buying an additional 655,247 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.