Intercontinental Exchange (NYSE:ICE) Given New $173.00 Price Target at Barclays

Intercontinental Exchange (NYSE:ICE) had its price objective decreased by Barclays from $179.00 to $173.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup boosted their price objective 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, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Trading Down 0.8 %

Shares of NYSE:ICE traded down $1.23 during trading on Friday, reaching $154.64. 4,510,332 shares of the company were exchanged, compared to its average volume of 2,546,484. The firm has a market capitalization of $88.79 billion, a PE ratio of 38.28, a P/E/G ratio of 2.51 and a beta of 1.08. The business’s fifty day simple moving average is $161.98 and its 200-day simple moving average is $148.20. Intercontinental Exchange has a 12-month low of $104.91 and a 12-month 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.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. On average, research analysts anticipate that Intercontinental Exchange will post 6.13 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. 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. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of ICE. Vanguard Group Inc. raised its position in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. CCLA Investment Management grew its stake in shares of Intercontinental Exchange by 91,838.2% during the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $124,508,000. Janus Henderson Group PLC grew its stake in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after acquiring an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $93,340,000. Hedge funds and other institutional investors 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.