Andrew Surdykowski Sells 4,574 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the transaction, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.22 during mid-day trading on Friday, reaching $162.46. The stock had a trading volume of 3,000,844 shares, compared to its average volume of 3,957,768. The firm has a 50 day moving average price of $144.32 and a two-hundred day moving average price of $151.43. The stock has a market capitalization of $91.20 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $177.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.81 earnings per share. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Intercontinental Exchange by 11,968.7% during the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock valued at $13,342,784,000 after acquiring an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP grew its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. BlackRock Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter valued at approximately $1,418,228,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Intercontinental Exchange during the 2nd quarter valued at approximately $714,869,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday, July 6th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group dropped their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

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.