Intercontinental Exchange (NYSE:ICE) General Counsel Andrew Surdykowski Sells 4,575 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,575 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $175.05, for a total value of $800,853.75. Following the transaction, the general counsel directly owned 40,554 shares in the company, valued at $7,098,977.70. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Intercontinental Exchange Stock Performance

ICE stock opened at $177.80 on Friday. The company has a market capitalization of $99.36 billion, a P/E ratio of 24.26, a PEG ratio of 1.59 and a beta of 0.84. The company has a 50-day simple moving average of $160.03 and a 200 day simple moving average of $154.71. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. Intercontinental Exchange’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Jefferies Financial Group dropped their target price on Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. Deutsche Bank reissued a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Bank of America upped their target price on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of ICE. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $714,869,000. Flossbach Von Storch SE acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $649,900,000. Bank of America Corp DE acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $521,557,000. Finally, Jupiter Topco LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $474,012,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Key Intercontinental Exchange News

Here’s some of the latest news about ICE:

• Positive Sentiment: ICE plans to introduce wind futures covering seven European countries, expanding its derivatives offerings and potentially creating additional trading activity. Article: ICE Plans to Launch Wind Futures
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.