Jeffrey C. Sprecher Sells 66,575 Shares of Intercontinental Exchange Inc. (NYSE:ICE) Stock
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CEO Jeffrey C. Sprecher sold 66,575 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $12,189,216.75. Following the completion of the sale, the chief executive officer owned 1,162,991 shares of the company's stock, valued at $212,932,022.19. The trade was a 5.41% decrease in their ownership of the stock.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CEO Jeffrey C. Sprecher sold 66,575 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $12,189,216.75. Following the completion of the sale, the chief executive officer owned 1,162,991 shares of the company's stock, valued at approximately $212,932,022.19. This represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Intercontinental Exchange Stock Performance
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Intercontinental Exchange stock traded up $1.37 during midday trading on Thursday, reaching $182.78. The stock had a trading volume of 6,072,339 shares, compared to its average volume of 3,016,790. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm's 50-day moving average price is $181.89 and its 200 day moving average price is $173.08. The firm has a market capitalization of $104.63 billion, a PE ratio of 35.08, a P/E/G ratio of 2.17 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.52 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Announces Dividend
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's payout ratio is presently 36.85%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $194.92.
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View Our Latest Research Report on Intercontinental Exchange
Institutional Investors Weigh In On Intercontinental Exchange
Institutional investors and hedge funds have recently modified their holdings of the company. Governors Lane LP lifted its position in Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after purchasing an additional 59,500 shares during the last quarter. Tema Etfs LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at $1,107,000. Capital Investment Advisory Services LLC purchased a new stake in Intercontinental Exchange during the first quarter valued at about $349,000. Sequoia Financial Advisors LLC lifted its stake in Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $28,949,000. 89.30% of the stock is owned by hedge funds and other institutional investors.
About Intercontinental Exchange
(Get Free Report)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.
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