Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells $12,245,463.75 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher sold 68,315 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.25, for a total transaction of $12,245,463.75. Following the transaction, the chief executive officer now owns 1,162,908 shares in the company, valued at $208,451,259. The trade was a 5.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $178.70 on Friday. The firm’s 50-day moving average is $168.60 and its two-hundred day moving average is $163.40. The company has a market capitalization of $102.51 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 52 week low of $132.93 and a 52 week high of $180.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $1.48 earnings per share. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ICE shares. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $188.46.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently modified their holdings of ICE. Kestra Private Wealth Services LLC lifted its holdings in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after acquiring an additional 4,787 shares during the last quarter. Governors Lane LP raised its holdings in shares of Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after purchasing an additional 59,500 shares in the last quarter. National Pension Service lifted its stake in Intercontinental Exchange by 19.1% during the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after purchasing an additional 198,311 shares during the last quarter. Hahn Capital Management LLC lifted its stake in Intercontinental Exchange by 69.8% during the fourth quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock valued at $10,600,000 after purchasing an additional 29,233 shares during the last quarter. Finally, Tema Etfs LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $1,107,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

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.