Intercontinental Exchange (NYSE:ICE) Price Target Raised to $151.00

Intercontinental Exchange (NYSE:ICE) had its price objective hoisted by JPMorgan Chase & Co. from $147.00 to $151.00 in a research note released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

ICE has been the topic of a number of other research reports. UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a buy rating in a report on Monday, February 12th. StockNews.com raised shares of Intercontinental Exchange from a sell rating to a hold rating in a research note on Wednesday, February 14th. Barclays lowered their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a research note on Friday. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Trading Up 0.6 %

Shares of NYSE ICE traded up $0.78 during mid-day trading on Friday, hitting $131.28. The company’s stock had a trading volume of 1,128,172 shares, compared to its average volume of 2,409,724. Intercontinental Exchange has a one year low of $103.81 and a one year high of $140.43. The company’s fifty day simple moving average is $135.01 and its 200-day simple moving average is $126.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $75.30 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced 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. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now 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 can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ICE. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the third quarter worth $25,000. Scarborough Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Annapolis Financial Services LLC raised its holdings in shares of Intercontinental Exchange by 1,018.8% in the 1st 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 period. Jones Financial Companies Lllp acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Finally, Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the first quarter worth about $26,000. Institutional investors and hedge funds 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.