Intercontinental Exchange, Inc. (NYSE:ICE) Sees Large Growth in Short Interest

Intercontinental Exchange, Inc. (NYSE:ICEGet Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,900,000 shares, a growth of 15.5% from the February 29th total of 5,110,000 shares. Based on an average daily trading volume, of 2,420,000 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analyst Weigh In

ICE has been the subject of several research reports. Piper Sandler lifted their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Citigroup increased their price objective on shares of Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Rosenblatt Securities lifted their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, eight have assigned 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 a consensus price target of $145.83.

View Our Latest Stock Analysis on ICE

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the transaction, the chief executive officer now directly owns 1,152,375 shares of the company’s stock, valued at approximately $145,084,012.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at $1,640,296. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock valued at $20,793,835 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Intercontinental Exchange

Several large investors have recently made changes to their positions in ICE. RB Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 3.2% in the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after buying an additional 126 shares during the last quarter. United Bank boosted its holdings in Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock valued at $2,112,000 after acquiring an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 13.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 220 shares during the last quarter. Sei Investments Co. boosted its stake in Intercontinental Exchange by 31.5% during the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after purchasing an additional 49,081 shares during the period. Finally, Prudential PLC acquired a new stake in Intercontinental Exchange in the 1st quarter valued at approximately $1,679,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.3 %

Shares of NYSE:ICE traded up $0.47 during mid-day trading on Tuesday, hitting $137.50. The stock had a trading volume of 1,833,070 shares, compared to its average volume of 2,403,191. The company’s 50 day moving average is $134.83 and its 200-day moving average is $122.40. The company has a market cap of $78.74 billion, a PE ratio of 32.74, a P/E/G ratio of 2.46 and a beta of 1.02. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange will post 5.91 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is presently 42.86%.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

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