Douglas Foley Sells 1,600 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the sale, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Intercontinental Exchange Stock Down 0.9%

Shares of Intercontinental Exchange stock traded down $1.40 during trading on Tuesday, reaching $160.00. 4,221,876 shares of the company traded hands, compared to its average volume of 3,213,018. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a 50 day moving average price of $155.03 and a 200-day moving average price of $169.99. The firm has a market capitalization of $91.23 billion, a PE ratio of 29.14, a P/E/G ratio of 2.53 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the company posted $1.55 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock worth $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. State Street Corp lifted its position in shares of Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intercontinental Exchange by 1.2% during 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 purchasing an additional 145,961 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 last quarter. Finally, Norges Bank bought a new stake in Intercontinental Exchange in the 2nd quarter worth about $1,542,780,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. TD Cowen cut their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $194.70.

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.