Key Points
- Director Sharon Bowen sold 667 shares of Intercontinental Exchange (NYSE: ICE) on May 22 at an average price of $151.28, a transaction worth about $100,904. After the sale, she still owned 15,077 shares.
- ICE recently beat earnings expectations, posting $2.35 EPS versus the $2.23 consensus and revenue of $3.67 billion versus the expected $2.88 billion. Revenue rose 20.4% year over year.
- Analyst sentiment remains positive, with a consensus rating of Buy and an average price target of $194.60. Several firms recently reiterated bullish ratings and raised price objectives on the stock.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) Director Sharon Bowen sold 667 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Intercontinental Exchange Stock Down 0.7%
ICE stock opened at $149.52 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $84.55 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.40 and a beta of 0.96. The business has a 50-day moving average of $157.82 and a 200-day moving average of $160.16. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.
Institutional Trading of Intercontinental Exchange
Several institutional investors and hedge funds have recently bought and sold shares of ICE. PNC Financial Services Group Inc. increased its stake in shares of Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider's stock worth $31,041,000 after purchasing an additional 10,742 shares during the period. Rockland Trust Co. increased its stake in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider's stock worth $21,507,000 after purchasing an additional 20,981 shares during the period. M&G PLC increased its stake in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock worth $17,988,000 after purchasing an additional 16,635 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in Intercontinental Exchange by 15.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider's stock worth $5,308,000 after acquiring an additional 4,333 shares during the period. Finally, National Pension Service increased its stake in Intercontinental Exchange by 2.5% during the 3rd quarter. National Pension Service now owns 1,389,561 shares of the financial services provider's stock worth $234,113,000 after acquiring an additional 34,358 shares during the period. Institutional investors own 89.30% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on ICE shares. Piper Sandler reaffirmed an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Barclays reaffirmed an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $194.60.
Read Our Latest Report on Intercontinental Exchange
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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