Key Points
- ICE CFO Warren Gardiner sold 2,491 shares at an average price of $156.30, generating $389,343.30 and reducing his holdings by 9.89% to 22,698 shares.
- Intercontinental Exchange reported quarterly EPS of $1.90, exceeding estimates by $0.06, while revenue rose 4.8% year over year to $3.61 billion.
- Analysts maintain a “Moderate Buy” consensus, with a $183.33 average price target; institutional investors own approximately 89.3% of the company’s stock.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CFO Warren Gardiner sold 2,491 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares of the company's stock, valued at $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Intercontinental Exchange Price Performance
NYSE ICE opened at $161.29 on Friday. The business's fifty day moving average is $142.34 and its 200 day moving average is $151.69. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.92.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. The business's quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. TD Cowen reaffirmed a "buy" rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $183.33.
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. J. Stern & Co. LLP boosted its holdings in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $6,245,085,000. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Intercontinental Exchange during the second quarter valued at approximately $714,869,000. Finally, Flossbach Von Storch SE purchased a new position in Intercontinental Exchange during the 2nd quarter valued at approximately $649,900,000. 89.30% of the stock is currently owned by institutional investors.
Intercontinental Exchange Company Profile
(
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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