Intercontinental Exchange (NYSE:ICE) had its price objective decreased by Bank of America from $83.00 to $82.00 in a research note published on Thursday morning. Bank of America currently has a buy rating on the financial services provider’s stock.

ICE has been the topic of a number of other research reports. Argus raised their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, December 20th. Berenberg Bank started coverage on shares of Intercontinental Exchange in a research note on Thursday, January 25th. They set a buy rating and a $90.00 price objective on the stock. Zacks Investment Research upgraded shares of Intercontinental Exchange from a hold rating to a buy rating and set a $78.00 price objective on the stock in a research note on Wednesday, January 3rd. Royal Bank of Canada raised their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an outperform rating in a research note on Monday, October 16th. Finally, Citigroup raised their price objective on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $76.08.

Intercontinental Exchange (NYSE:ICE) opened at $68.45 on Thursday. Intercontinental Exchange has a 12 month low of $56.97 and a 12 month high of $76.14. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The company has a market cap of $39,858.02, a P/E ratio of 23.28, a P/E/G ratio of 2.36 and a beta of 0.66.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. research analysts expect that Intercontinental Exchange will post 3.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 annualized dividend and a yield of 1.40%. Intercontinental Exchange’s dividend payout ratio (DPR) is 18.87%.

Intercontinental Exchange declared that its board has initiated a stock buyback program on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the transaction, the insider now owns 377,471 shares in the company, valued at $27,151,489.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dean S. Mathison sold 1,042 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total transaction of $78,973.18. Following the completion of the transaction, the insider now owns 12,485 shares in the company, valued at approximately $946,238.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,910 shares of company stock worth $3,579,672. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Intercontinental Exchange by 6.0% in the 4th quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock worth $2,629,892,000 after purchasing an additional 2,104,818 shares during the period. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 14.6% in the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock worth $712,683,000 after purchasing an additional 1,325,290 shares during the period. Capital International Investors boosted its stake in Intercontinental Exchange by 15.6% in the 3rd quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock worth $599,294,000 after purchasing an additional 1,176,185 shares during the period. Bank of New York Mellon Corp boosted its stake in Intercontinental Exchange by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 7,249,668 shares of the financial services provider’s stock worth $511,534,000 after purchasing an additional 157,093 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Intercontinental Exchange by 10.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock worth $398,504,000 after purchasing an additional 557,332 shares during the period. 90.14% of the stock is owned by hedge funds and other institutional investors.

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About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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