The Senior Vice President of Intercontinental Exchange, Inc. (ICE), a leading global operator of exchanges and clearing houses, recently sold $182,384.00 worth of stock. This move suggests a lack of confidence in the company’s future performance. ICE operates various financial and commodity markets worldwide, including the New York Stock Exchange. While stock sales by company executives are not uncommon, they can be viewed as a signal for investors to evaluate the potential risks and uncertainties surrounding the company. This transaction should be closely monitored by shareholders and industry analysts..
Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $113.99, for a total value of $182,384.00. Following the completion of the sale, the senior vice president now directly owns 18,402 shares in the company, valued at approximately $2,097,643.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Intercontinental Exchange Stock Performance
ICE traded up $0.54 on Friday, reaching $115.80. The company had a trading volume of 1,500,074 shares, compared to its average volume of 2,432,610. Intercontinental Exchange, Inc. has a 1 year low of $88.60 and a 1 year high of $117.85. The stock has a market capitalization of $64.88 billion, a PE ratio of 38.30, a P/E/G ratio of 2.31 and a beta of 0.94. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $113.97 and a 200-day moving average price of $108.44.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company earned $1.32 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 5.65 EPS for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.45%. Intercontinental Exchange’s payout ratio is 55.81%.
Analyst Ratings Changes
Several research firms have commented on ICE. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Rosenblatt Securities restated a “buy” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Friday, August 4th. Barclays dropped their price target on shares of Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Raymond James boosted their price target on shares of Intercontinental Exchange from $130.00 to $133.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 4th. Finally, Citigroup upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $130.00 in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $132.60.
View Our Latest Report on Intercontinental Exchange
Institutional Investors Weigh In On Intercontinental Exchange
A number of institutional investors and hedge funds have recently made changes to their positions in ICE. GPS Wealth Strategies Group LLC purchased a new position in Intercontinental Exchange during the first quarter worth about $25,000. OLD Mission Capital LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Intercontinental Exchange by 187.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Spire Wealth Management raised its holdings in Intercontinental Exchange by 374.6% during the first quarter. Spire Wealth Management now owns 299 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 236 shares in the last quarter. Finally, Oakworth Capital Inc. raised its holdings in Intercontinental Exchange by 53.9% during the second quarter. Oakworth Capital Inc. now owns 297 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 104 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.
About Intercontinental Exchange
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Intercontinental Exchange, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Intercontinental Exchange wasn’t on the list.
While Intercontinental Exchange currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
Douglas Foley, Senior Vice President of Intercontinental Exchange, sold 1,600 shares of the company’s stock for a total value of $182,384. Following the sale, Foley now owns 18,402 shares valued at approximately $2,097,643. The sale was disclosed in a filing with the Securities and Exchange Commission. Intercontinental Exchange is a financial services provider that reported earnings of $1.43 per share for the quarter, beating analysts’ estimates. The company also recently announced a quarterly dividend of $0.42 per share. Several research firms have provided ratings and price targets for Intercontinental Exchange, with a consensus rating of “Moderate Buy.”
Hashtags: #Intercontinental #Exchange #NYSEICE #SVP #Sells #Stock
Hgvt.edu.vn trang tổng hợp kiến thức giáo dục, công nghệ, đời sống. Bạn có thể tự đánh giá nội dung và trở thành cộng tác viên của chúng tôi
Hgvt.edu.vn trang tổng hợp kiến thức giáo dục, công nghệ, đời sống. Bạn có thể tự đánh giá nội dung và trở thành cộng tác viên của chúng tôi
Leave a Reply