Barclays Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $150.00

Intercontinental Exchange (NYSE:ICE) had its price objective reduced by Barclays from $155.00 to $150.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other analysts have also commented on ICE. Citigroup lifted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods cut their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating on the stock in a research report on Friday. UBS Group lifted their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company 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 report on Wednesday, February 14th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of Moderate Buy and an average price target of $147.92.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $3.96 during trading on Friday, hitting $130.50. 3,991,238 shares of the stock were exchanged, compared to its average volume of 2,404,087. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.01. The company’s fifty day simple moving average is $135.01 and its 200-day simple moving average is $125.81.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. Sell-side analysts expect that Intercontinental Exchange will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a $0.45 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a yield of 1.38%. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,832 shares of company stock valued at $21,499,127. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of ICE. OFI Invest Asset Management purchased a new stake in Intercontinental Exchange in the third quarter worth $25,000. Scarborough Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Annapolis Financial Services LLC increased its holdings in 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 worth $25,000 after buying an additional 163 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange in the third quarter worth approximately $26,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange during the 1st quarter valued at $26,000. 89.30% of the stock is currently owned by institutional investors.

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.