Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Sells $149,056.40 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $155.58 on Friday. The company has a fifty day moving average price of $159.90 and a 200-day moving average price of $153.38. The firm has a market cap of $89.33 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $121.56 and a 1 year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently modified their holdings of ICE. Diversified Trust Co bought a new position in Intercontinental Exchange in the 2nd quarter valued at $214,000. Wealth Enhancement Advisory Services LLC grew its position in Intercontinental Exchange by 6.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,287 shares of the financial services provider’s stock valued at $3,188,000 after buying an additional 1,310 shares during the period. ORG Partners LLC increased its holdings in Intercontinental Exchange by 1,652.9% during the second quarter. ORG Partners LLC now owns 596 shares of the financial services provider’s stock worth $82,000 after buying an additional 562 shares during the last quarter. Swedbank AB raised its position in Intercontinental Exchange by 5.4% in the second quarter. Swedbank AB now owns 84,942 shares of the financial services provider’s stock worth $11,628,000 after acquiring an additional 4,359 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ICE. Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

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.