Jeffrey C. Sprecher Sells 25,275 Shares of IntercontinentalExchange Group Inc. (ICE) Stock
IntercontinentalExchange Group Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher sold 25,275 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $270.49, for a total value of $6,836,634.75. Following the sale, the chief executive officer now owns 313,445 shares in the company, valued at approximately $84,783,738.05. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of IntercontinentalExchange Group Inc. (NYSE:ICE) opened at 269.36 on Friday. The stock has a market capitalization of $30.99 billion, a P/E ratio of 22.22 and a beta of 0.84. The company’s 50 day moving average price is $279.47 and its 200-day moving average price is $260.26. IntercontinentalExchange Group Inc. has a 12 month low of $227.22 and a 12 month high of $287.02.
IntercontinentalExchange Group (NYSE:ICE) last issued its earnings results on Wednesday, August 3rd. The company reported $3.43 EPS for the quarter, topping the Zacks’ consensus estimate of $3.38 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period last year, the company posted $2.90 earnings per share. Equities analysts predict that IntercontinentalExchange Group Inc. will post $13.83 earnings per share for the current year.
Several brokerages have issued reports on ICE. Royal Bank Of Canada increased their price target on IntercontinentalExchange Group from $255.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, August 4th. Barclays PLC increased their price target on IntercontinentalExchange Group from $295.00 to $307.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. RBC Capital Markets reiterated a “sector perform” rating and issued a $282.00 price target (up previously from $255.00) on shares of IntercontinentalExchange Group in a report on Thursday, August 4th. Keefe, Bruyette & Woods increased their price target on IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Zacks Investment Research lowered IntercontinentalExchange Group from a “hold” rating to a “sell” rating in a report on Monday, June 6th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $296.18.
Several institutional investors have recently modified their holdings of the company. D. Scott Neal Inc. raised its position in shares of IntercontinentalExchange Group by 100.0% in the second quarter. D. Scott Neal Inc. now owns 400 shares of the company’s stock worth $102,000 after buying an additional 200 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of IntercontinentalExchange Group during the second quarter valued at about $102,000. LSV Asset Management acquired a new position in shares of IntercontinentalExchange Group during the second quarter valued at about $116,000. Johnson Financial Group Inc. raised its position in shares of IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock valued at $120,000 after buying an additional 324 shares during the last quarter. Finally, Invictus RG raised its position in shares of IntercontinentalExchange Group by 2,695.5% in the first quarter. Invictus RG now owns 615 shares of the company’s stock valued at $145,000 after buying an additional 593 shares during the last quarter. 90.04% of the stock is currently owned by institutional investors and hedge funds.
IntercontinentalExchange Group Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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