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Jeffrey C. Sprecher Sells 87,377 Shares of Intercontinental Exchange, Inc. (NYSE:ICE) Stock

Defense World · Sep 24, 2022 04:11

Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) CEO Jeffrey C. Sprecher sold 87,377 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $94.95, for a total transaction of $8,296,446.15. Following the sale, the chief executive officer now owns 1,255,207 shares of the company's stock, valued at approximately $119,181,904.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Intercontinental Exchange Trading Down 0.9 %

Shares of Intercontinental Exchange stock opened at $93.24 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $90.05 and a 12-month high of $139.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.79. The stock has a market cap of $52.07 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 3.38 and a beta of 0.89. The company has a 50-day moving average of $102.20 and a two-hundred day moving average of $107.60.

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Intercontinental Exchange (NYSE:ICE – Get Rating) last issued its earnings results on Thursday, August 4th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.04. Intercontinental Exchange had a net margin of 35.58% and a return on equity of 13.52%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the company posted $1.16 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.36 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.63%. Intercontinental Exchange's dividend payout ratio (DPR) is 25.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. increased its stake in shares of Intercontinental Exchange by 5.6% during the 1st quarter. Benjamin Edwards Inc. now owns 1,703 shares of the financial services provider's stock worth $225,000 after purchasing an additional 90 shares in the last quarter. Leuthold Group LLC increased its stake in shares of Intercontinental Exchange by 0.3% during the 1st quarter. Leuthold Group LLC now owns 31,367 shares of the financial services provider's stock worth $4,144,000 after purchasing an additional 92 shares in the last quarter. Oak Asset Management LLC increased its stake in shares of Intercontinental Exchange by 0.5% during the 1st quarter. Oak Asset Management LLC now owns 20,176 shares of the financial services provider's stock worth $2,666,000 after purchasing an additional 95 shares in the last quarter. Executive Wealth Management LLC boosted its position in Intercontinental Exchange by 0.9% during the first quarter. Executive Wealth Management LLC now owns 10,861 shares of the financial services provider's stock worth $1,434,000 after acquiring an additional 96 shares during the last quarter. Finally, Tiedemann Advisors LLC boosted its position in Intercontinental Exchange by 0.6% during the first quarter. Tiedemann Advisors LLC now owns 15,979 shares of the financial services provider's stock worth $2,111,000 after acquiring an additional 99 shares during the last quarter. 87.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ICE shares. Argus decreased their target price on shares of Intercontinental Exchange from $148.00 to $138.00 in a research note on Wednesday, June 1st. Raymond James cut their price target on shares of Intercontinental Exchange from $142.00 to $126.00 and set a "strong-buy" rating for the company in a report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $124.00 to $131.00 and gave the stock a "buy" rating in a report on Friday, August 12th. Atlantic Securities increased their price target on shares of Intercontinental Exchange from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, August 19th. Finally, Rosenblatt Securities assumed coverage on shares of Intercontinental Exchange in a report on Tuesday, August 16th. They set a "buy" rating and a $164.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.75.

Intercontinental Exchange Company Profile

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Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.