Brokerages Set Intercontinental Exchange, Inc. (NYSE:ICE) Target Price at $148.08

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $147.92.

Several research firms have weighed in on ICE. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays cut their target price on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Piper Sandler raised 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.

Insider Activity

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction 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 completion of the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its position in Intercontinental Exchange by 4.3% during the third quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock valued at $4,534,000 after buying an additional 1,716 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Intercontinental Exchange by 15.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 731,418 shares of the financial services provider’s stock worth $80,471,000 after purchasing an additional 98,981 shares during the period. Xponance Inc. boosted its holdings in shares of Intercontinental Exchange by 5.7% during the third quarter. Xponance Inc. now owns 70,795 shares of the financial services provider’s stock worth $7,789,000 after purchasing an additional 3,794 shares during the period. Maryland State Retirement & Pension System raised its stake in Intercontinental Exchange by 2.1% in the third quarter. Maryland State Retirement & Pension System now owns 43,240 shares of the financial services provider’s stock worth $4,757,000 after buying an additional 909 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Intercontinental Exchange by 3.5% in the third quarter. Raymond James & Associates now owns 1,994,586 shares of the financial services provider’s stock worth $219,444,000 after buying an additional 66,970 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $130.50 on Wednesday. The stock’s fifty day moving average is $135.17 and its 200-day moving average is $125.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $74.73 billion, a PE ratio of 31.07, a PEG ratio of 2.11 and a beta of 1.02. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a $0.45 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s payout ratio is 42.86%.

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.