Andrew Surdykowski Sells 4,574 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,574 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Intercontinental Exchange Stock Up 0.8%

ICE stock opened at $162.46 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $177.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $144.90 and its 200 day moving average is $151.50. The firm has a market cap of $91.20 billion, a PE ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of Intercontinental Exchange by 11,968.7% during the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock valued at $13,342,784,000 after acquiring an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $6,245,085,000. State Street Corp increased its position in shares of 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 purchasing an additional 837,208 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. TD Cowen reaffirmed a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $183.33.

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.