Intercontinental Exchange Inc. (NYSE:ICE) Director Sells $146,890.00 in Stock

Key Points

• Sharon Bowen, a director at Intercontinental Exchange, sold 794 shares of the company's stock for a total of $146,890, reducing her ownership by 5.29%.
• Intercontinental Exchange reported a net margin of 22.84% and a revenue of $2.47 billion for the last quarter, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.48 per share, resulting in an annualized dividend yield of 1.04% and a payout ratio of 39.75%.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) Director Sharon Bowen sold 794 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the transaction, the director directly owned 14,206 shares of the company's stock, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sharon Bowen also recently made the following trade(s):

• On Tuesday, July 1st, Sharon Bowen sold 795 shares of Intercontinental Exchange stock. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50.

Intercontinental Exchange Trading Up 1.1%

NYSE ICE traded up $2.01 during trading on Tuesday, hitting $184.80. The stock had a trading volume of 3,035,700 shares, compared to its average volume of 2,973,894. The stock has a market capitalization of $106.00 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 2.02 and a beta of 1.11. The stock has a 50 day simple moving average of $179.92 and a 200 day simple moving average of $170.45. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $185.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. Intercontinental Exchange's payout ratio is 39.75%.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $59,000. New Age Alpha Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 7,658.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 9,232 shares of the financial services provider's stock valued at $1,376,000 after acquiring an additional 9,113 shares during the last quarter. Allianz SE acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $240,000. Finally, Schroder Investment Management Group raised its position in Intercontinental Exchange by 30.3% during the fourth quarter. Schroder Investment Management Group now owns 907,189 shares of the financial services provider's stock valued at $135,507,000 after acquiring an additional 211,072 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.42.

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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