Intercontinental Exchange, Inc. (NYSE:ICE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $131.00.

ICE has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Intercontinental Exchange from $122.00 to $120.00 in a report on Friday, May 5th. TheStreet upgraded Intercontinental Exchange from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th. Raymond James upped their price target on Intercontinental Exchange from $126.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Thursday, April 6th.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $109.00 on Wednesday. The stock’s 50 day moving average is $104.41 and its 200 day moving average is $104.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $61.03 billion, a P/E ratio of 42.25, a P/E/G ratio of 2.19 and a beta of 0.93. Intercontinental Exchange has a one year low of $88.60 and a one year high of $113.07.

Intercontinental Exchange (NYSE:ICE – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.01. Intercontinental Exchange had a return on equity of 12.98% and a net margin of 14.97%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange will post 5.51 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.54%. Intercontinental Exchange’s payout ratio is 65.12%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total transaction of $167,680.00. Following the sale, the senior vice president now owns 21,481 shares of the company’s stock, valued at approximately $2,251,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 81,827 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the transaction, the chief executive officer now owns 1,203,104 shares in the company, valued at approximately $125,146,878.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total value of $167,680.00. Following the completion of the transaction, the senior vice president now owns 21,481 shares of the company’s stock, valued at approximately $2,251,208.80. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Polaris Wealth Advisory Group LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at $736,000. DAVENPORT & Co LLC boosted its position in Intercontinental Exchange by 2.9% during the fourth quarter. DAVENPORT & Co LLC now owns 37,860 shares of the financial services provider’s stock worth $3,884,000 after acquiring an additional 1,056 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Intercontinental Exchange by 21.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,343 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 769 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of Intercontinental Exchange by 25.5% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 12,113 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 2,460 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Intercontinental Exchange by 10.2% during the 3rd quarter. IFP Advisors Inc now owns 14,585 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 1,353 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.