Douglas Foley Sells 1,600 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intercontinental Exchange Stock Down 1.2%

ICE opened at $174.02 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $180.62 and its two-hundred day moving average price is $174.97. The company has a market capitalization of $99.61 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.92.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 1.4% in the 2nd 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. Geode Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.2% during the second 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 acquiring an additional 145,961 shares during the period. Royal Bank of Canada boosted its holdings in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the second quarter worth about $1,542,780,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.