Intercontinental Exchange, Inc. (NYSE:ICE) Receives $188.46 Average PT from Analysts

Intercontinental Exchange, Inc. (NYSE:ICE) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $188.46.

Several equities analysts recently issued reports on the company. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,354 shares of company stock worth $40,512,695. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC boosted its holdings in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after buying an additional 4,787 shares during the period. Governors Lane LP raised its stake in Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after acquiring an additional 59,500 shares during the period. National Pension Service lifted its position in Intercontinental Exchange by 19.1% during the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock worth $184,644,000 after acquiring an additional 198,311 shares during the last quarter. Hahn Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 69.8% during the fourth quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock worth $10,600,000 after buying an additional 29,233 shares in the last quarter. Finally, Tema Etfs LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,107,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $177.43 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $169.28 and its two-hundred day moving average price is $163.78. The firm has a market capitalization of $101.78 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange has a 12-month low of $133.97 and a 12-month high of $180.89.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company posted $1.48 earnings per share. Intercontinental Exchange’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio is 39.75%.

Intercontinental Exchange Company Profile

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.