Insider Selling: Intercontinental Exchange Inc (NYSE:ICE) CFO Sells 26,933 Shares of Stock

Intercontinental Exchange Inc (NYSE:ICE) CFO Scott A. Hill sold 26,933 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $73.32, for a total value of $1,974,727.56. Following the transaction, the chief financial officer now owns 188,688 shares of the company’s stock, valued at $13,834,604.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of ICE traded down $0.30 during midday trading on Friday, reaching $79.86. 2,934,857 shares of the stock were exchanged, compared to its average volume of 2,869,972. Intercontinental Exchange Inc has a 52 week low of $67.70 and a 52 week high of $82.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $45.18 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.58 and a beta of 0.48.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc will post 3.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, September 13th. Intercontinental Exchange’s payout ratio is currently 30.64%.

Several research analysts have weighed in on the company. Bank of America set a $85.00 price target on Intercontinental Exchange and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Wells Fargo & Co upped their price objective on Intercontinental Exchange from $79.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Deutsche Bank decreased their price objective on Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, ValuEngine lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Friday, February 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.55.

A number of hedge funds have recently modified their holdings of the stock. Allred Capital Management LLC boosted its position in Intercontinental Exchange by 4.0% during the first quarter. Allred Capital Management LLC now owns 3,489 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 133 shares in the last quarter. Rosenbaum Jay D. boosted its holdings in Intercontinental Exchange by 1.8% in the first quarter. Rosenbaum Jay D. now owns 7,975 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 140 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Intercontinental Exchange by 46.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 460 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. HCR Wealth Advisors boosted its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. HCR Wealth Advisors now owns 16,271 shares of the financial services provider’s stock worth $1,226,000 after acquiring an additional 165 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in Intercontinental Exchange by 2.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 8,615 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 175 shares in the last quarter. 90.55% of the stock is currently owned by institutional investors.

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About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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