Intercontinental Exchange (NYSE:ICE) PT Lowered to $153.00

Intercontinental Exchange (NYSE:ICE) had its price objective reduced by Bank of America from $156.00 to $153.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $152.00 price objective on shares of Intercontinental Exchange in a report on Thursday, April 4th. Rosenblatt Securities boosted their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a buy rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an overweight rating in a research note on Friday, February 9th. StockNews.com raised shares of Intercontinental Exchange from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, Piper Sandler boosted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of Moderate Buy and an average target price of $148.08.

Intercontinental Exchange Stock Up 0.3 %

Intercontinental Exchange stock opened at $131.65 on Friday. The firm has a 50 day simple moving average of $136.20 and a 200 day simple moving average of $124.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 2.08 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the sale, the president now owns 138,487 shares in the company, valued at $18,659,738.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after purchasing an additional 1,012,034 shares during the period. Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares in the last quarter. Capital World Investors lifted its stake in shares of Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after buying an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC lifted its stake in shares of Intercontinental Exchange by 23.8% in the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after buying an additional 1,621,737 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Intercontinental Exchange by 3.9% in the third quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after buying an additional 282,963 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.