Intercontinental Exchange (NYSE:ICE) President Benjamin Jackson Sells 7,332 Shares of Company Stock

Intercontinental Exchange Inc. (NYSE:ICE) President Benjamin Jackson sold 7,332 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $175.01, for a total value of $1,283,173.32. Following the sale, the president owned 156,932 shares of the company’s stock, valued at $27,464,669.32. This trade represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Benjamin Jackson also recently made the following trade(s):

• On Thursday, November 5th, Benjamin Jackson sold 400 shares of Intercontinental Exchange stock. The stock was sold at an average price of $177.90, for a total value of $71,160.00.
• On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The stock was sold at an average price of $160.09, for a total value of $2,059,077.58.

Intercontinental Exchange Trading Down 1.0%

Shares of Intercontinental Exchange stock traded down $1.73 on Friday, reaching $172.28. 2,684,776 shares of the company were exchanged, compared to its average volume of 3,772,203. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.94. The firm has a market capitalization of $96.28 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $158.44 and a 200-day moving average price of $154.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company posted $1.71 EPS. Intercontinental Exchange’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. State Street Corp grew its position in Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock valued at $3,196,758,000 after purchasing an additional 415,490 shares in the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after buying an additional 1,634,385 shares during the period. Amundi increased its stake in Intercontinental Exchange by 49.6% in the 1st quarter. Amundi now owns 4,997,079 shares of the financial services provider’s stock valued at $785,941,000 after buying an additional 1,656,220 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $714,869,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Finally, Jefferies Financial Group cut their target price on shares of Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $189.25.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.

Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.