Insider Selling: Intercontinental Exchange (NYSE:ICE) Director Sells 610 Shares of Stock
by Renee Jackson · The Cerbat GemIntercontinental Exchange Inc. (NYSE:ICE – Get Free Report) Director Martha Tirinnanzi sold 610 shares of Intercontinental Exchange stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $179.76, for a total value of $109,653.60. Following the completion of the transaction, the director directly owned 3,519 shares in the company, valued at $632,575.44. This represents a 14.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Intercontinental Exchange Trading Down 0.2%
Shares of NYSE ICE traded down $0.41 during midday trading on Tuesday, hitting $178.73. The stock had a trading volume of 2,578,914 shares, compared to its average volume of 3,002,782. The company has a market capitalization of $102.31 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.15 and a beta of 1.11. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year 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. The company has a fifty day moving average price of $182.24 and a 200 day moving average price of $174.31.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 36.85%.
Analysts Set New Price Targets
Several equities analysts recently commented on ICE shares. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.92.
Get Our Latest Stock Report on Intercontinental Exchange
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC grew its stake in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after buying an additional 91 shares during the last quarter. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth $28,000. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $29,000. Finally, Rakuten Securities Inc. grew its stake in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.
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.
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