Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) CAO Sells 1,182 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICEGet Free Report) CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Intercontinental Exchange Stock Up 1.0 %

Shares of ICE opened at $135.49 on Monday. The firm has a market cap of $75.74 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Intercontinental Exchange, Inc. has a 12-month low of $94.16 and a 12-month high of $135.98. The company’s 50-day moving average price is $125.12 and its 200 day moving average price is $116.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.84 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.33%. Intercontinental Exchange’s dividend payout ratio is 40.00%.

Analyst Ratings Changes

Several brokerages have issued reports on ICE. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $119.00 to $124.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 28th. Raymond James boosted their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Rosenblatt Securities boosted their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.15.

Read Our Latest Report on Intercontinental Exchange

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of ICE. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Norges Bank purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $839,259,000. T. Rowe Price Investment Management Inc. increased its stake in Intercontinental Exchange by 45.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the period. Morgan Stanley increased its stake in Intercontinental Exchange by 18.9% during the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares during the period. Finally, Third Point LLC purchased a new stake in Intercontinental Exchange during the second quarter worth about $209,198,000. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Exchange

(Get Free Report)

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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Insider Buying and Selling by Quarter for Intercontinental Exchange (NYSE:ICE)

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