Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) COO Sells 468 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intercontinental Exchange Stock Up 0.6 %

Shares of ICE stock traded up $0.95 during trading hours on Friday, reaching $159.82. The company had a trading volume of 4,843,347 shares, compared to its average volume of 2,492,314. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day simple moving average of $155.59 and a 200-day simple moving average of $142.60. The company has a market cap of $91.67 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ICE shares. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup boosted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Barclays boosted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.08.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. Vanguard Group Inc. boosted its position in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. Capital World Investors boosted its position in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after purchasing an additional 1,790,493 shares during the period. Finally, Parnassus Investments LLC boosted its position in Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares during the period. 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.