Intercontinental Exchange (NYSE:ICE) General Counsel Andrew Surdykowski Sells 4,571 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,571 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Trading Up 0.4%

Shares of NYSE ICE opened at $164.71 on Tuesday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a market cap of $93.54 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.71 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $164.53 and its 200-day moving average is $163.18.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 33.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ICE. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. 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, the company has an average rating of “Buy” and a consensus price target of $195.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ICE. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC lifted its stake in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $313,000. Finally, Assetmark Inc. increased its stake in shares of Intercontinental Exchange by 1.1% during the 2nd quarter. Assetmark Inc. now owns 24,111 shares of the financial services provider’s stock worth $4,424,000 after purchasing an additional 262 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.