Intercontinental Exchange (NYSE:ICE) Sets New 52-Week Low on Insider Selling

Intercontinental Exchange Inc. (NYSE:ICE)’s stock price reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $135.57 and last traded at $135.9350, with a volume of 1571183 shares changing hands. The stock had previously closed at $141.28.

Specifically, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ICE shares. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. UBS Group reiterated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Intercontinental Exchange Trading Down 4.1%

The company’s fifty day simple moving average is $153.32 and its two-hundred day simple moving average is $159.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $76.62 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business posted $1.72 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. raised its stake in Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares in the last quarter. M&G PLC raised its position in shares of Intercontinental Exchange by 18.4% in the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after buying an additional 16,635 shares in the last quarter. Dover Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $710,000. Advisors Preferred LLC grew its holdings in shares of Intercontinental Exchange by 284.5% during the 3rd quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock valued at $7,098,000 after purchasing an additional 32,295 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.