Intercontinental Exchange (NYSE:ICE) Price Target Lowered to $230.00 at Bank of America

Intercontinental Exchange (NYSE:ICE) had its target price decreased by Bank of America from $237.00 to $230.00 in a report released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the company. Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange Price Performance

ICE opened at $156.89 on Wednesday. The firm has a market capitalization of $90.13 billion, a P/E ratio of 32.82, a PEG ratio of 2.10 and a beta of 1.09. The stock has a fifty day moving average of $168.49 and a 200-day moving average of $160.80. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange has a 12-month low of $124.34 and a 12-month high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities analysts forecast that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.22%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the sale, the president now directly owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ICE. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Royal Bank of Canada increased its position in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $406,728,000. Finally, Swedbank AB boosted its stake in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. 89.30% of the stock is owned by 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.