Intercontinental Exchange (NYSE:ICE) President Sells 12,862 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the transaction, the president owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Stock Up 4.2%

NYSE ICE traded up $6.68 during trading hours on Thursday, reaching $164.53. 4,657,904 shares of the company’s stock were exchanged, compared to its average volume of 3,950,890. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $92.37 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. The company’s 50-day moving average is $146.56 and its two-hundred day moving average is $151.46. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.59.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the last quarter. BlackRock Inc. acquired a new position in Intercontinental Exchange during the second quarter worth $6,245,085,000. USS Investment Management Ltd raised its position in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its stake in Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares during the last quarter. Finally, Nicholas Company Inc. lifted its stake in Intercontinental Exchange by 10.1% in the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after acquiring an additional 40,240 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Morgan Stanley dropped their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.17.

About Intercontinental Exchange

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.