Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells 68,315 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report) CEO Jeffrey C. Sprecher sold 68,315 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.25, for a total value of $12,245,463.75. Following the transaction, the chief executive officer now owns 1,162,908 shares in the company, valued at approximately $208,451,259. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Intercontinental Exchange Trading Up 0.1%

Shares of ICE traded up $0.14 during midday trading on Friday, hitting $178.70. 3,054,975 shares of the stock were exchanged, compared to its average volume of 3,016,599. Intercontinental Exchange, Inc. has a 52-week low of $132.93 and a 52-week high of $180.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day simple moving average of $168.45 and a 200 day simple moving average of $163.26. The firm has a market cap of $102.51 billion, a P/E ratio of 37.38, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the company earned $1.48 EPS. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays lifted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after buying an additional 712,179 shares during the period. Geode Capital Management LLC boosted its position in Intercontinental Exchange by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after buying an additional 327,637 shares during the period. Royal Bank of Canada grew its stake in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $1,196,258,000. Finally, Northern Trust Corp increased its position in shares of Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after acquiring an additional 655,247 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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