Intercontinental Exchange (NYSE:ICE) Insider Christopher Scott Edmonds Sells 5,000 Shares

Key Points

• Insider Christopher Edmonds sold 5,000 ICE shares at an average price of $160.59, generating $802,950. Following the transaction, his holdings fell 25.82% to 14,367 shares.
• Intercontinental Exchange shares rose 4.2% to $164.53, while the company’s latest quarterly results exceeded expectations with $1.90 in EPS versus a $1.84 consensus estimate and $3.61 billion in revenue.
• Analysts maintain a “Moderate Buy” consensus on ICE, with an average price target of $184.17; institutional investors own approximately 89.3% of the company’s shares.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) insider Christopher Edmonds sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the sale, the insider owned 14,367 shares of the company's stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Stock Up 4.2%

ICE stock traded up $6.68 on Thursday, hitting $164.53. 4,657,904 shares of the company's stock were exchanged, compared to its average volume of 3,950,890. The firm has a 50 day moving average price of $146.56 and a two-hundred day moving average price of $151.46. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $176.59. The stock has a market cap of $92.37 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in ICE. California State Teachers Retirement System boosted its holdings in Intercontinental Exchange by 11,968.7% in the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider's stock valued at $13,342,784,000 after purchasing an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP lifted its holdings in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $6,245,085,000. State Street Corp raised its position in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider's stock valued at $4,154,914,000 after acquiring an additional 837,208 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider's stock valued at $2,571,212,000 after acquiring an additional 158,450 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ICE. Barclays reaffirmed an "overweight" rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen restated a "buy" rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. UBS Group reiterated a "buy" rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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