Warren Gardiner Sells 1,572 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Intercontinental Exchange Trading Up 2.0%

Shares of ICE stock opened at $156.01 on Wednesday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market capitalization of $88.95 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The firm has a 50 day moving average price of $157.35 and a two-hundred day moving average price of $171.66. 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) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Institutional Trading of Intercontinental Exchange

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Intercontinental Exchange by 1.4% during the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares in the last quarter. State Street Corp boosted its holdings in shares of Intercontinental Exchange by 0.8% in the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after purchasing an additional 145,961 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $1,542,780,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ICE. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a research report on Monday, October 13th. TD Cowen lowered their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Company Profile

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.