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

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $147.92.

A number of equities analysts have recently commented on ICE shares. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Rosenblatt Securities restated a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Citigroup upped their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th.

Intercontinental Exchange Stock Up 1.9 %

ICE stock opened at $133.72 on Wednesday. Intercontinental Exchange has a twelve month low of $103.81 and a twelve 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 company has a market cap of $76.70 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The business’s 50-day simple moving average is $134.78 and its 200 day simple moving average is $126.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The business 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%. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. On average, research analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 dividend yield of 1.35%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the sale, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Intercontinental Exchange by 7.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after purchasing an additional 8,320 shares in the last quarter. LGT Group Foundation grew its holdings in shares of 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of Intercontinental Exchange by 9.3% in the 4th 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 buying an additional 105,042 shares in the last quarter. Finally, First County Bank CT raised its stake in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares during the period. Institutional investors own 89.30% of the company’s stock.

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.