Intercontinental Exchange (NYSE:ICE) Director Sharon Bowen Sells 2,100 Shares of Company Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director Sharon Bowen sold 2,100 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $174.51, for a total transaction of $366,471.00. Following the completion of the transaction, the director directly owned 12,977 shares in the company, valued at $2,264,616.27. This trade represents a 13.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Intercontinental Exchange Stock Down 1.5%

Shares of NYSE:ICE opened at $177.80 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.38. The company has a 50 day moving average of $160.03 and a 200-day moving average of $154.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $99.36 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.59 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $26,000. Gables Capital Management Inc. bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $31,000. James T. Borello RIA grew its position in shares of Intercontinental Exchange by 143.0% in the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Hughes Financial Services LLC grew its position in shares of Intercontinental Exchange by 64.4% in the 3rd quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 76 shares during the period. Finally, Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $33,000. 89.30% of the stock is currently owned by institutional investors.

Recent Intercontinental Exchange Headlines

These are some of the ICE headlines that stood out recently:

• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Neutral Sentiment: One Seeking Alpha analysis maintained a bullish view after ICE’s 18% rally, but the sharp recent advance may also leave less room for near-term gains. Article: Intercontinental Exchange: Still a Buy After the 18% Rally
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Deutsche Bank reaffirmed a “buy” rating and set a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen upped their price objective on Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a report on Friday, October 30th. Bank of America increased their target price on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, Jefferies Financial Group reduced their target price on Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.