Intercontinental Exchange (NYSE:ICE) Price Target Raised to $167.00

Intercontinental Exchange (NYSE:ICE) had its price objective lifted by Barclays from $159.00 to $167.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Bank of America reduced their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a research note on Friday, April 19th. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and raised their target price for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $153.86.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.17 during midday trading on Friday, hitting $150.02. The company’s stock had a trading volume of 1,999,940 shares, compared to its average volume of 2,443,729. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a one year low of $104.49 and a one year high of $153.28. The stock has a market capitalization of $86.05 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company’s fifty day simple moving average is $141.10 and its two-hundred day simple moving average is $136.54.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. As a group, equities analysts expect that Intercontinental Exchange will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.20%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the transaction, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The disclosure for this sale can be found here. Insiders have sold a total of 64,992 shares of company stock worth $9,197,801 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Intercontinental Exchange

Institutional investors and hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $25,000. Annapolis Financial Services LLC lifted its position in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange in the first quarter worth approximately $26,000. Hedge funds and other 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.