Jeffrey Sprecher Sells 150,000 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) CEO Jeffrey Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares in the company, valued at $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intercontinental Exchange Stock Up 1.9%

Shares of NYSE:ICE traded up $2.91 on Friday, hitting $154.57. 3,895,570 shares of the company traded hands, compared to its average volume of 3,190,287. The stock has a 50 day simple moving average of $158.43 and a 200-day simple moving average of $172.18. The company has a market cap of $88.13 billion, a PE ratio of 29.67, a PEG ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ICE. Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter worth about $28,000. Activest Wealth Management lifted its holdings in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. acquired a new position in Intercontinental Exchange during the second quarter worth about $29,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $30,000. Finally, Private Wealth Management Group LLC increased its stake in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ICE. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. UBS Group dropped their price objective on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. TD Cowen decreased their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $194.70.

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.