Barclays Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $173.00

Intercontinental Exchange (NYSE:ICE) had its target price cut by Barclays from $179.00 to $173.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup increased their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $154.64 on Friday. The stock has a market cap of $88.79 billion, a P/E ratio of 36.64, a PEG ratio of 2.35 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $161.98 and its two-hundred day moving average price is $148.45. Intercontinental Exchange has a twelve month low of $104.91 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. As a group, equities analysts predict that Intercontinental Exchange will post 6.13 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced 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 is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio is 42.65%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. 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, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. purchased a new position in Intercontinental Exchange in the third quarter worth about $200,000. Sustainable Insight Capital Management LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $3,273,000. RKL Wealth Management LLC boosted its holdings in shares of Intercontinental Exchange by 2.3% in the 3rd quarter. RKL Wealth Management LLC now owns 19,982 shares of the financial services provider’s stock worth $3,210,000 after purchasing an additional 441 shares during the period. Essex Savings Bank bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $230,000. Finally, Tompkins Financial Corp raised its holdings in Intercontinental Exchange by 3.2% during the 3rd quarter. Tompkins Financial Corp now owns 32,840 shares of the financial services provider’s stock valued at $5,275,000 after buying an additional 1,023 shares during the period. 89.30% of the stock is currently 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.