Intercontinental Exchange (NYSE:ICE) Price Target Raised to $151.00

Intercontinental Exchange (NYSE:ICE) had its target price boosted by JPMorgan Chase & Co. from $147.00 to $151.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating on the stock in a report on Friday. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research report on Friday, April 19th. Rosenblatt Securities reissued a buy rating and issued a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday. StockNews.com raised shares of Intercontinental Exchange from a sell rating to a hold rating in a research report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of Moderate Buy and an average target price of $147.92.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $131.28 on Friday. The stock has a market cap of $75.30 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $134.88 and a 200-day simple moving average of $126.17.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. On average, sell-side analysts anticipate 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. 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 the company’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 approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last quarter, 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

Several institutional investors and hedge funds have recently bought and sold shares of ICE. Nordea Investment Management AB boosted its holdings in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after buying an additional 8,320 shares during the period. LGT Group Foundation boosted its stake in Intercontinental Exchange by 36.0% in the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock valued at $45,724,000 after buying an additional 94,039 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Intercontinental Exchange by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after acquiring an additional 105,042 shares during the period. Finally, First County Bank CT raised its stake in Intercontinental Exchange by 2.7% during the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

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.