Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Sells 3,848 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report) General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel now directly owns 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Intercontinental Exchange Stock Up 0.1%

NYSE ICE traded up $0.14 on Friday, hitting $178.70. The stock had a trading volume of 3,245,175 shares, compared to its average volume of 3,016,599. The business's fifty day moving average price is $168.45 and its 200 day moving average price is $163.26. The stock has a market cap of $102.51 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $132.93 and a 52-week high of $180.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share 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 the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $1.48 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current 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 paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $1,196,258,000. Price T Rowe Associates Inc. MD grew its stake in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Royal Bank of Canada increased its holdings in 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 valued at $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at approximately $575,383,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Barclays upped their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

About Intercontinental Exchange

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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