Intercontinental Exchange (NYSE:ICE) CFO Sells $241,537.80 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 1,572 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded down $1.52 during midday trading on Monday, hitting $152.91. The stock had a trading volume of 4,111,167 shares, compared to its average volume of 3,197,919. The company’s 50-day moving average price is $158.04 and its 200-day moving average price is $171.99. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $87.19 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. TD Cowen decreased their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $194.70.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Capital Management LLC grew its holdings in Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 396 shares during the period. Trillium Asset Management LLC boosted its position in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock valued at $49,907,000 after purchasing an additional 29,250 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Exchange by 6.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after purchasing an additional 55,057 shares during the period. King Luther Capital Management Corp increased its holdings in Intercontinental Exchange by 19.7% in the second quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock worth $53,961,000 after purchasing an additional 48,344 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Intercontinental Exchange by 18.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 103,206 shares of the financial services provider’s stock valued at $18,935,000 after buying an additional 16,100 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

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.