Intercontinental Exchange (NYSE:ICE) Price Target Lowered to $160.00 at Deutsche Bank Aktiengesellschaft

Intercontinental Exchange (NYSE:ICE) had its price target reduced by Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a research report report published on Friday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

ICE has been the subject of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Bank of America upped their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $1.23 during trading hours on Friday, reaching $154.64. The company’s stock had a trading volume of 4,510,332 shares, compared to its average volume of 2,546,484. The firm has a 50 day moving average price of $161.98 and a 200-day moving average price of $148.20. Intercontinental Exchange has a one year low of $104.91 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $88.79 billion, a P/E ratio of 38.28, a P/E/G ratio of 2.51 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange will post 6.13 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Intercontinental Exchange’s payout ratio is presently 44.55%.

Insiders Place Their Bets

In other news, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now directly owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ICE. Norden Group LLC purchased a new position in Intercontinental Exchange during the 1st quarter worth $487,000. Mission Wealth Management LP purchased a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $866,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Intercontinental Exchange by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,401 shares of the financial services provider’s stock valued at $13,523,000 after purchasing an additional 4,317 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Intercontinental Exchange by 3.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 66,809 shares of the financial services provider’s stock valued at $9,182,000 after purchasing an additional 2,255 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Intercontinental Exchange by 4.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 2,587 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds 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.