Intercontinental Exchange’s (ICE) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Intercontinental Exchange (NYSE:ICE) in a report published on Friday morning, Benzinga reports. They currently have a $164.00 target price on the financial services provider’s stock.

ICE has been the subject of a number of other research reports. Citigroup lifted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 4th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an overweight rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods decreased their price objective 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. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, Bank of America reduced their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Stock Up 0.6 %

Shares of ICE stock opened at $131.28 on Friday. 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 has a 1 year low of $103.81 and a 1 year high of $140.43. The firm’s fifty day moving average price is $134.88 and its two-hundred day moving average price is $126.17. The firm has a market capitalization of $75.30 billion, a P/E ratio of 30.11, a PEG ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the business’s 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 acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction that occurred 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 owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 in the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pettyjohn Wood & White Inc. raised its position in shares of Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 75 shares in the last quarter. Western Pacific Wealth Management LP increased its position in Intercontinental Exchange by 4.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 80 shares in the last quarter. Busey Bank increased its position in Intercontinental Exchange by 3.4% during the 1st quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 80 shares in the last quarter. Spire Wealth Management increased its position in Intercontinental Exchange by 16.4% during the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 82 shares in the last quarter. Finally, PDS Planning Inc increased its position in Intercontinental Exchange by 2.8% during the 1st quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 83 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.