Intercontinental Exchange (NYSE:ICE) Price Target Raised to $192.00

by · The Cerbat Gem

Intercontinental Exchange (NYSE:ICE – Free Report) had its price objective boosted by Morgan Stanley from $181.00 to $192.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the company. Bank of America cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $185.93.

Get Our Latest Report on Intercontinental Exchange

Intercontinental Exchange Trading Up 0.7 %

Shares of Intercontinental Exchange stock opened at $176.44 on Monday. The company’s fifty day moving average price is $166.69 and its two-hundred day moving average price is $160.84. The firm has a market capitalization of $101.37 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange has a 52-week low of $131.79 and a 52-week high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Intercontinental Exchange will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insider Activity at Intercontinental Exchange

In other news, 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 completion of the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at $3,396,876. This represents a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the sale, the president now directly owns 160,059 shares in the company, valued at approximately $26,627,415.24. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,948 shares of company stock worth $8,839,042. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morningstar Investment Management LLC boosted its stake in shares of Intercontinental Exchange by 28.7% during the 1st quarter. Morningstar Investment Management LLC now owns 10,528 shares of the financial services provider’s stock worth $1,816,000 after buying an additional 2,348 shares during the last quarter. TCTC Holdings LLC boosted its position in Intercontinental Exchange by 2.8% during the first quarter. TCTC Holdings LLC now owns 7,428 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 200 shares during the last quarter. Kirtland Hills Capital Management LLC grew its stake in Intercontinental Exchange by 2.3% in the first quarter. Kirtland Hills Capital Management LLC now owns 14,582 shares of the financial services provider’s stock valued at $2,313,000 after purchasing an additional 329 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Intercontinental Exchange by 106.3% during the 1st quarter. Meeder Asset Management Inc. now owns 326 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of Intercontinental Exchange by 17.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 12,037 shares of the financial services provider’s stock worth $2,076,000 after purchasing an additional 1,783 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

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