Intercontinental Exchange Inc. (NYSE:ICE) Receives $194.42 Average Target Price from Analysts

Shares of Intercontinental Exchange Inc. (NYSE:ICE) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $194.42.

ICE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Bank of America reduced their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays boosted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares in the company, valued at $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sharon Bowen sold 795 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director owned 15,000 shares of the company’s stock, valued at $2,749,500. The trade was a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,913 shares of company stock worth $40,671,107 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $1,196,258,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the period. Royal Bank of Canada grew its holdings in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after buying an additional 3,678,384 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $575,383,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 1.1%

NYSE ICE opened at $184.80 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $180.10 and its two-hundred day moving average is $170.55. The company has a market capitalization of $106.01 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.00 and a beta of 1.11. Intercontinental Exchange has a 1-year low of $142.29 and a 1-year high of $185.29.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Equities analysts forecast that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.04%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

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.