Keefe, Bruyette & Woods Trims Intercontinental Exchange (NYSE:ICE) Target Price to $155.00

Intercontinental Exchange (NYSE:ICE) had its price objective trimmed by Keefe, Bruyette & Woods from $156.00 to $155.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on ICE. UBS Group increased their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a buy rating in a report on Monday, February 12th. Rosenblatt Securities increased their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a buy rating in a research note on Friday, February 9th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Raymond James increased their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the company a strong-buy rating in a research report on Friday, January 5th. Finally, Piper Sandler boosted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Trading Up 0.6 %

Shares of Intercontinental Exchange stock traded up $0.78 on Friday, hitting $131.28. 1,128,172 shares of the company traded hands, compared to its average volume of 2,409,724. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a market cap of $75.30 billion, a PE ratio of 29.93, a PEG ratio of 2.14 and a beta of 1.02. The stock’s 50 day moving average price is $135.01 and its 200-day moving average price is $126.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company posted $1.41 EPS. Intercontinental Exchange’s revenue was up 20.8% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of ICE. OFI Invest Asset Management purchased a new position in Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Annapolis Financial Services LLC raised its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Intercontinental Exchange during the third quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at $26,000. 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.