Intercontinental Exchange (NYSE:ICE) Price Target Lowered to $155.00 at Keefe, Bruyette & Woods

Intercontinental Exchange (NYSE:ICE) had its price target reduced by Keefe, Bruyette & Woods from $156.00 to $155.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. Barclays lifted their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an overweight rating in a research report on Monday, April 8th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Citigroup boosted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Finally, UBS Group boosted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a buy rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Stock Performance

ICE traded up $3.96 on Friday, reaching $130.50. The stock had a trading volume of 3,991,238 shares, compared to its average volume of 2,404,087. The business’s 50-day moving average price is $135.01 and its two-hundred day moving average price is $125.81. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43. The company has a market cap of $74.73 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last announced its 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 net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Activity

In other news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at approximately $1,640,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at approximately $1,640,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lynn C. Martin sold 3,772 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $136.59, for a total transaction of $515,217.48. Following the completion of the sale, the insider now directly owns 58,999 shares in the company, valued at $8,058,673.41. 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. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the 1st quarter worth approximately $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.