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

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 5,300,000 shares, a drop of 19.5% from the February 28th total of 6,580,000 shares. Based on an average trading volume of 3,100,000 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the company’s stock are sold short.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the sale, the president now owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,563 shares of company stock worth $10,998,990. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Chancellor Financial Group WB LP acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $228,000. 111 Capital acquired a new position in Intercontinental Exchange in the 4th quarter valued at $1,610,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,949,000. Campbell Deegan Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $539,000. Finally, TFR Capital LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $1,452,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $1.20 during trading hours on Tuesday, hitting $171.30. The stock had a trading volume of 3,877,203 shares, compared to its average volume of 2,796,934. Intercontinental Exchange has a 1-year low of $124.34 and a 1-year high of $177.45. The stock has a market capitalization of $98.42 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 2.10 and a beta of 1.08. The stock’s fifty day moving average is $167.59 and its two-hundred day moving average is $160.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, analysts predict that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ICE shares. UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

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.