Intercontinental Exchange, Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher Sells 85,461 Shares

Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) CEO Jeffrey C. Sprecher sold 85,461 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $107.89, for a total value of $9,220,387.29. Following the completion of the transaction, the chief executive officer now directly owns 1,188,085 shares in the company, valued at $128,182,490.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $105.11 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $58.85 billion, a PE ratio of 40.74, a P/E/G ratio of 2.02 and a beta of 0.93. Intercontinental Exchange, Inc. has a 1-year low of $88.60 and a 1-year high of $113.07. The business’s fifty day moving average price is $105.66 and its two-hundred day moving average price is $105.02.

Intercontinental Exchange (NYSE:ICE – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.40 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. Intercontinental Exchange had a net margin of 14.97% and a return on equity of 12.98%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 earnings per share. On average, research analysts expect that Intercontinental Exchange, Inc. will post 5.48 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.60%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 65.12%.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the business. RB Capital Management LLC boosted its position in Intercontinental Exchange by 3.2% during the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 126 shares during the period. United Bank lifted its holdings in Intercontinental Exchange by 2.7% in the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in Intercontinental Exchange by 13.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after buying an additional 220 shares in the last quarter. Sei Investments Co. grew its position in Intercontinental Exchange by 31.5% in the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after buying an additional 49,081 shares in the last quarter. Finally, Prudential PLC acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $1,679,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Raymond James increased their target price on Intercontinental Exchange from $126.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Intercontinental Exchange from $122.00 to $120.00 in a research report on Friday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Thursday, April 6th. Finally, Citigroup boosted their target price on shares of Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.70.

About Intercontinental Exchange

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.