Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells 83,621 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) CEO Jeffrey C. Sprecher sold 83,621 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $98.97, for a total transaction of $8,275,970.37. Following the sale, the chief executive officer now directly owns 1,277,280 shares of the company’s stock, valued at approximately $126,412,401.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Intercontinental Exchange stock traded up $3.17 during mid-day trading on Friday, hitting $102.70. The stock had a trading volume of 2,465,175 shares, compared to its average volume of 3,247,271. The firm has a 50-day moving average of $116.99 and a two-hundred day moving average of $125.89. Intercontinental Exchange, Inc. has a 12-month low of $93.45 and a 12-month high of $139.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. The firm has a market cap of $57.33 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88.

Intercontinental Exchange (NYSE:ICEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Intercontinental Exchange had a net margin of 44.24% and a return on equity of 13.41%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, June 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 21.11%.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Intercontinental Exchange by 13.0% during the fourth quarter. BlackRock Inc. now owns 46,929,022 shares of the financial services provider’s stock worth $6,418,482,000 after purchasing an additional 5,408,445 shares in the last quarter. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 2.5% during the first quarter. Vanguard Group Inc. now owns 44,599,297 shares of the financial services provider’s stock worth $5,892,459,000 after purchasing an additional 1,100,806 shares in the last quarter. State Street Corp lifted its stake in Intercontinental Exchange by 3.3% during the fourth quarter. State Street Corp now owns 25,791,770 shares of the financial services provider’s stock worth $3,527,540,000 after purchasing an additional 819,503 shares in the last quarter. Morgan Stanley lifted its stake in Intercontinental Exchange by 16.5% during the third quarter. Morgan Stanley now owns 14,764,134 shares of the financial services provider’s stock worth $1,695,218,000 after purchasing an additional 2,085,712 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 9,503,613 shares of the financial services provider’s stock worth $1,296,309,000 after acquiring an additional 290,045 shares during the period. Institutional investors own 87.36% of the company’s stock.

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $145.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 13th. Credit Suisse Group assumed coverage on shares of Intercontinental Exchange in a research note on Tuesday, February 15th. They set an “outperform” rating and a $160.00 target price for the company. Raymond James cut their target price on shares of Intercontinental Exchange from $161.00 to $157.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 6th. Citigroup dropped their price objective on shares of Intercontinental Exchange from $160.00 to $152.00 in a research note on Wednesday, April 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Intercontinental Exchange from $161.00 to $134.00 in a research note on Friday, May 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $140.09.

About Intercontinental Exchange (Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Insider Buying and Selling by Quarter for Intercontinental Exchange (NYSE:ICE)

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