Intercontinental Exchange (NYSE:ICE) Insider Christopher Scott Edmonds Sells 11,303 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Price Performance

ICE opened at $154.00 on Friday. The company has a fifty day moving average price of $164.58 and a two-hundred day moving average price of $164.54. The firm has a market capitalization of $87.45 billion, a PE ratio of 26.69, a P/E/G ratio of 1.60 and a beta of 1.02. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in Intercontinental Exchange by 11.3% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,951 shares of the financial services provider’s stock valued at $534,000 after buying an additional 300 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Intercontinental Exchange by 0.3% in the 2nd quarter. D.A. Davidson & CO. now owns 29,310 shares of the financial services provider’s stock valued at $5,378,000 after acquiring an additional 82 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Key Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group reissued a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $195.40.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.