Intercontinental Exchange (NYSE:ICE) General Counsel Sells $740,502.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,571 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the transaction, the general counsel owned 48,181 shares in the company, valued at $7,805,322. The trade was a 8.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $166.24 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market cap of $94.41 billion, a P/E ratio of 28.81, a P/E/G ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm has a 50-day moving average of $164.66 and a 200-day moving average of $163.09.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm earned $1.52 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 33.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $195.40.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its holdings in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC raised its position in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $313,000. Finally, Assetmark Inc. lifted its stake in Intercontinental Exchange by 1.1% during the 2nd quarter. Assetmark Inc. now owns 24,111 shares of the financial services provider’s stock valued at $4,424,000 after acquiring an additional 262 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.