Insider Selling: Intercontinental Exchange Inc. (ICE) CFO Sells $2,635,228.90 in Stock
Intercontinental Exchange Inc. (NYSE:ICE) CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Intercontinental Exchange Inc. (NYSE ICE) opened at 69.03 on Friday. The company has a market cap of $7.94 billion, a PE ratio of 25.58 and a beta of 0.74. Intercontinental Exchange Inc. has a one year low of $52.27 and a one year high of $71.24. The stock has a 50 day moving average of $66.47 and a 200 day moving average of $63.59.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. On average, analysts anticipate that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in ICE. BlackRock Inc. raised its holdings in Intercontinental Exchange by 2,943.4% during the 1st quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock valued at $2,098,452,000 after buying an additional 33,898,484 shares during the period. Janus Henderson Group PLC raised its holdings in Intercontinental Exchange by 1,254.2% during the 2nd quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock valued at $596,480,000 after buying an additional 8,380,362 shares during the period. OppenheimerFunds Inc. raised its holdings in Intercontinental Exchange by 340.8% during the 1st quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock valued at $337,737,000 after buying an additional 4,361,480 shares during the period. Northern Trust Corp raised its holdings in Intercontinental Exchange by 19.9% during the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after buying an additional 1,883,432 shares during the period. Finally, Prudential PLC raised its holdings in Intercontinental Exchange by 39,517.6% during the 2nd quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after buying an additional 1,477,562 shares during the period. Institutional investors own 89.75% of the company’s stock.
Several research firms have commented on ICE. Wells Fargo & Company lifted their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays PLC began coverage on shares of Intercontinental Exchange in a research note on Friday, September 8th. They set an “overweight” rating and a $72.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $69.28.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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