Intercontinental Exchange (NYSE:ICE) Stock: Insider Benjamin Jackson Sells 7,332 Shares

Key Points

• ICE President Benjamin Jackson sold 7,332 shares at an average of $175.01, for about $1.28 million. He retained 156,932 shares after the sale.
• Intercontinental Exchange reported quarterly EPS of $2.02, beating the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts maintain a “Moderate Buy” consensus with a $189.25 average price target; ICE shares traded at $172.28 in Friday’s midday session.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) President Benjamin Jackson sold 7,332 shares of the business's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $175.01, for a total transaction of $1,283,173.32. Following the sale, the president directly owned 156,932 shares of the company's stock, valued at $27,464,669.32. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Benjamin Jackson also recently made the following trade(s):

• On Thursday, November 5th, Benjamin Jackson sold 400 shares of Intercontinental Exchange stock. The stock was sold at an average price of $177.90, for a total value of $71,160.00.
• On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The stock was sold at an average price of $160.09, for a total value of $2,059,077.58.

Intercontinental Exchange Trading Down 1.0%

Intercontinental Exchange stock traded down $1.73 during midday trading on Friday, reaching $172.28. The stock had a trading volume of 2,684,776 shares, compared to its average volume of 3,772,203. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $177.94. The stock has a market capitalization of $96.28 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock's 50-day simple moving average is $158.44 and its 200 day simple moving average is $154.63.

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

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. Jefferies Financial Group cut their price target on shares of Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. Raymond James Financial decreased their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Monday, October 5th. Argus dropped their price objective on shares of Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, October 30th. Finally, Morgan Stanley raised their target price on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the company an "equal weight" rating in a research note on Friday, October 9th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus target price of $189.25.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently modified their holdings of the stock. Kintegral Advisory LLC grew its stake in shares of Intercontinental Exchange by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider's stock worth $1,738,000 after purchasing an additional 64 shares during the last quarter. Gilpin Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 6.3% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider's stock worth $170,000 after purchasing an additional 66 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Chemistry Wealth Management LLC lifted its stake in Intercontinental Exchange by 0.9% during the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider's stock valued at $1,182,000 after purchasing an additional 68 shares during the last quarter. Finally, Capstone Financial Advisors Inc. boosted its holdings in Intercontinental Exchange by 1.4% during the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider's stock worth $630,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

About Intercontinental Exchange

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.

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