Intercontinental Exchange Inc (ICE) Given Consensus Rating of “Buy” by Brokerages
Shares of Intercontinental Exchange Inc (NYSE:ICE) have received a consensus rating of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eleven 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 $76.62.
A number of brokerages have recently weighed in on ICE. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, January 3rd. JPMorgan Chase & Co. upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their target price for the company from $76.00 to $83.00 in a report on Tuesday, February 20th. Berenberg Bank began coverage on Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Argus upped their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Bank of America dropped their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th.
Shares of Intercontinental Exchange (NYSE:ICE) opened at $72.54 on Friday. The stock has a market capitalization of $41,960.12, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. Intercontinental Exchange has a twelve month low of $57.91 and a twelve month high of $76.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. Intercontinental Exchange’s dividend payout ratio is currently 18.87%.
In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.55, for a total value of $544,125.00. Following the transaction, the insider now owns 377,471 shares in the company, valued at $27,385,521.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dean S. Mathison sold 1,042 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total value 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. Insiders sold 194,201 shares of company stock worth $14,255,783 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI bought a new stake in Intercontinental Exchange during the third quarter worth approximately $380,000. Macquarie Group Ltd. boosted its position in Intercontinental Exchange by 0.9% during the third quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock worth $200,298,000 after purchasing an additional 24,797 shares during the period. AXA boosted its position in Intercontinental Exchange by 6.8% during the third quarter. AXA now owns 255,959 shares of the financial services provider’s stock worth $17,585,000 after purchasing an additional 16,304 shares during the period. Bank of Montreal Can boosted its position in Intercontinental Exchange by 17.9% during the fourth quarter. Bank of Montreal Can now owns 563,903 shares of the financial services provider’s stock worth $39,789,000 after purchasing an additional 85,435 shares during the period. Finally, Greystone Managed Investments Inc. boosted its position in Intercontinental Exchange by 4.6% during the third quarter. Greystone Managed Investments Inc. now owns 154,743 shares of the financial services provider’s stock worth $10,631,000 after purchasing an additional 6,736 shares during the period. Hedge funds and other institutional investors own 90.42% of the company’s stock.
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.
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