Key Points
- Intercontinental Exchange President Benjamin Jackson sold 12,861 shares on Feb. 10 at an average price of $165, totaling about $2.12M and reducing his ownership by 7.2% to 165,692 shares (≈$27.34M).
- ICE beat quarterly expectations with $1.71 EPS vs. $1.67 expected and reported revenue of $3.14B (vs. $2.51B), a 7.8% increase year-over-year.
- The company announced a quarterly dividend of $0.52 per share (annualized $2.08), implying a ~1.4% yield and an ex-dividend date of Dec. 16.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) President Benjamin Jackson sold 12,861 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the sale, the president directly owned 165,692 shares in the company, valued at approximately $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Intercontinental Exchange Trading Down 1.4%
ICE opened at $149.82 on Friday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a 50-day simple moving average of $165.35 and a 200 day simple moving average of $165.86. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $85.08 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.58 and a beta of 1.02.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.
Intercontinental Exchange Announces Dividend
The company also recently disclosed 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 1.4%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is 33.28%.
Wall Street Analysts Forecast Growth
ICE has been the topic of a number of research analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Royal Bank Of Canada restated an "outperform" rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the company an "equal weight" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an "overweight" rating for the company in a report on Friday, October 31st. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $195.40.
Check Out Our Latest Analysis on Intercontinental Exchange
Institutional Trading of Intercontinental Exchange
Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its position 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 valued at $2,483,000 after acquiring an additional 1,189 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after purchasing an additional 289 shares during the period. CWM LLC grew its stake in shares of Intercontinental Exchange by 13.8% in the second quarter. CWM LLC now owns 18,159 shares of the financial services provider's stock worth $3,332,000 after purchasing an additional 2,197 shares during the last quarter. Finally, MGO One Seven LLC increased its holdings in Intercontinental Exchange by 19.7% in the second quarter. MGO One Seven LLC now owns 9,236 shares of the financial services provider's stock valued at $1,694,000 after purchasing an additional 1,517 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.
About Intercontinental Exchange
(
Get Free Report)
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.
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