Intercontinental Exchange (NYSE:ICE) Director Sells 2,100 Shares of Company Stock

Key Points

• Director Sharon Bowen sold 2,100 ICE shares at an average price of $174.51, for proceeds of $366,471. The sale reduced her direct ownership by 13.93% to 12,977 shares.
• Intercontinental Exchange reported quarterly EPS of $2.02, beating the $1.97 consensus estimate, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts’ average rating is Moderate Buy, with an average price target of $189.25; institutional investors own 89.30% of the company’s shares.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) Director Sharon Bowen sold 2,100 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $174.51, for a total transaction of $366,471.00. Following the transaction, the director directly owned 12,977 shares in the company, valued at approximately $2,264,616.27. The trade was a 13.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Stock Down 1.5%

Shares of ICE stock traded down $2.79 on Thursday, hitting $177.80. The stock had a trading volume of 2,977,146 shares, compared to its average volume of 3,768,874. The stock's 50 day moving average is $159.63 and its 200-day moving average is $154.70. The firm has a market capitalization of $99.36 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.55 and a beta of 0.84. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The firm's quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $6,245,085,000. HF Advisory Group LLC raised its stake in Intercontinental Exchange by 147.5% during the third quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider's stock worth $2,339,000 after acquiring an additional 9,169 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in Intercontinental Exchange during the first quarter worth about $11,498,000. NBT Bank N.A. bought a new position in Intercontinental Exchange in the third quarter worth about $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its holdings in Intercontinental Exchange by 35.5% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider's stock worth $40,817,000 after acquiring an additional 86,897 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Barclays lifted their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, October 10th. Bank of America raised their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Piper Sandler restated an "overweight" rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Finally, Jefferies Financial Group cut their target price on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $189.25.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. NYSE: ICE operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.