Insider Selling: Intercontinental Exchange Inc (ICE) CFO Sells $1,107,900.00 in Stock

Intercontinental Exchange Inc (NYSE:ICE) CFO Scott A. Hill sold 14,772 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $75.00, for a total transaction of $1,107,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Intercontinental Exchange Inc (ICE) opened at $75.60 on Friday. Intercontinental Exchange Inc has a one year low of $56.69 and a one year high of $75.79. The company has a market cap of $44,227.96, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. equities analysts forecast that Intercontinental Exchange Inc will post 2.94 earnings per share for the current year.

Intercontinental Exchange announced that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its stake in Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 18 shares during the period. Americafirst Capital Management LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $145,000. Savant Capital LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $206,000. Geneva Partners LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $206,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $214,000. Institutional investors own 90.08% of the company’s stock.

ICE has been the topic of several recent research reports. Argus increased their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Co increased their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Finally, Royal Bank of Canada increased their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $75.40.

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About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Insider Buying and Selling by Quarter for Intercontinental Exchange (NYSE:ICE)

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