Intercontinental Exchange (NYSE:ICE) PT Lowered to $153.00

Intercontinental Exchange (NYSE:ICE) had its target price decreased by Bank of America from $156.00 to $153.00 in a report issued on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on ICE. 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. Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a buy rating in a report on Friday, February 9th. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an overweight rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods reissued an outperform rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $148.08.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $131.65 on Friday. The firm’s 50-day moving average price is $136.20 and its 200-day moving average price is $124.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $75.39 billion, a PE ratio of 31.35, a PEG ratio of 2.08 and a beta of 1.02. Intercontinental Exchange has a 52-week low of $103.81 and a 52-week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. As a group, analysts anticipate that Intercontinental Exchange will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Insider Activity

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares in the company, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock worth $21,454,204 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the business. Pettyjohn Wood & White Inc. increased its position in Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares during the last quarter. Western Pacific Wealth Management LP increased its position in Intercontinental Exchange by 4.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 80 shares during the last quarter. Kampmann Melissa S. increased its position in Intercontinental Exchange by 0.3% during the fourth quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock valued at $3,362,000 after acquiring an additional 85 shares during the last quarter. Assetmark Inc. increased its position in Intercontinental Exchange by 0.8% during the fourth quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after acquiring an additional 86 shares during the last quarter. Finally, Marcum Wealth LLC increased its position in Intercontinental Exchange by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 87 shares during the last quarter. 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.