Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) President Sells 7,900 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the transaction, the president now directly owns 160,059 shares in the company, valued at $26,627,415.24. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 20th, Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48.
• On Thursday, February 6th, Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88.
• On Monday, November 25th, Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $0.04 during trading hours on Thursday, hitting $167.00. 1,643,377 shares of the stock were exchanged, compared to its average volume of 2,941,875. The company has a market cap of $95.95 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.78. The stock has a 50-day moving average of $155.18 and a 200 day moving average of $157.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.71 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 37.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. increased its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $29,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

About Intercontinental Exchange

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.