Intercontinental Exchange (NYSE:ICE) Insider Sells $1,738,627.46 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Intercontinental Exchange Price Performance

Shares of ICE opened at $154.00 on Monday. The firm has a market capitalization of $87.45 billion, a PE ratio of 26.69, a P/E/G ratio of 1.60 and a beta of 1.02. The stock’s 50 day moving average is $164.58 and its two-hundred day moving average is $164.21. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Trending Headlines about Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. UBS Group reissued a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $195.40.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Finally, Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

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.