Intercontinental Exchange (NYSE:ICE) Director Sells $12,603.50 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director William Jefferson Hague sold 91 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $138.50, for a total value of $12,603.50. Following the sale, the director directly owned 21,465 shares in the company, valued at $2,972,902.50. This trade represents a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded down $1.35 during trading on Thursday, hitting $138.99. 3,079,356 shares of the stock were exchanged, compared to its average volume of 3,808,833. The company has a fifty day moving average price of $154.94 and a two-hundred day moving average price of $159.52. The company has a market cap of $78.60 billion, a PE ratio of 20.23, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.72 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ICE. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. UBS Group reaffirmed a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley upped their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First National Bank of Mount Dora Trust Investment Services raised its holdings in Intercontinental Exchange by 5.3% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,108 shares of the financial services provider’s stock valued at $4,264,000 after acquiring an additional 1,360 shares during the last quarter. Parallel Advisors LLC raised its holdings in Intercontinental Exchange by 3.5% in the 1st quarter. Parallel Advisors LLC now owns 7,042 shares of the financial services provider’s stock valued at $1,108,000 after acquiring an additional 236 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Intercontinental Exchange by 41.3% in the 1st quarter. NewEdge Advisors LLC now owns 39,775 shares of the financial services provider’s stock valued at $6,256,000 after acquiring an additional 11,624 shares during the last quarter. First Nebraska Trust Co acquired a new position in Intercontinental Exchange in the 1st quarter valued at $236,000. Finally, Carlson Capital L.P. acquired a new position in Intercontinental Exchange in the 1st quarter valued at $2,029,000. Hedge funds and other institutional investors 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.