Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) President Sells 5,828 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of ICE opened at $160.96 on Friday. The stock has a market cap of $92.42 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The stock’s 50-day moving average price is $160.62 and its two-hundred day moving average price is $151.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research analyst reports. Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Barclays lowered their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in ICE. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.