Intercontinental Exchange (NYSE:ICE) PT Raised to $151.00

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

A number of other research firms have also recently issued reports on ICE. UBS Group boosted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the company a buy rating in a report on Monday, February 12th. StockNews.com upgraded Intercontinental Exchange from a sell rating to a hold rating in a report on Wednesday, February 14th. Rosenblatt Securities restated a buy rating and set a $164.00 price objective on shares of Intercontinental Exchange in a report on Friday. Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Barclays decreased their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $147.92.

Intercontinental Exchange Trading Up 0.6 %

ICE stock opened at $131.28 on Friday. The firm’s fifty day simple moving average is $134.88 and its two-hundred day simple moving average is $126.17. The stock has a market capitalization of $75.30 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock worth $21,499,127 in the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of the company. Settian Capital LP lifted its stake in Intercontinental Exchange by 13.3% during the 1st quarter. Settian Capital LP now owns 17,000 shares of the financial services provider’s stock valued at $2,336,000 after acquiring an additional 2,000 shares during the period. Mystic Asset Management Inc. lifted its position in Intercontinental Exchange by 20.3% during the first quarter. Mystic Asset Management Inc. now owns 3,520 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 595 shares during the period. SG Americas Securities LLC grew its position in Intercontinental Exchange by 264.8% during the 1st quarter. SG Americas Securities LLC now owns 138,386 shares of the financial services provider’s stock worth $19,018,000 after purchasing an additional 100,453 shares during the period. Empowered Funds LLC raised its stake in shares of Intercontinental Exchange by 23.0% during the 1st quarter. Empowered Funds LLC now owns 8,709 shares of the financial services provider’s stock valued at $1,197,000 after buying an additional 1,631 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $1,821,000. Hedge funds and other 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.