Intercontinental Exchange Inc (ICE) Receives $85.74 Consensus Target Price from Analysts
Shares of Intercontinental Exchange Inc (NYSE:ICE) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $85.47.
ICE has been the topic of several recent analyst reports. Goldman Sachs Group downgraded shares of Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a report on Friday, January 4th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Friday, November 30th. Citigroup upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 price target on the stock in a report on Tuesday, January 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $85.50 price target on shares of Intercontinental Exchange in a report on Monday, February 11th. Finally, Deutsche Bank cut their price target on shares of Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating on the stock in a report on Friday.
ICE opened at $74.63 on Thursday. Intercontinental Exchange has a 52-week low of $67.70 and a 52-week high of $82.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $42.43 billion, a PE ratio of 20.79, a P/E/G ratio of 2.01 and a beta of 0.48.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, September 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.47%. Intercontinental Exchange’s payout ratio is 26.74%.
In other news, General Counsel Andrew J. Surdykowski sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $75.42, for a total transaction of $188,550.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 4,854 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $74.94, for a total transaction of $363,758.76. Following the sale, the president now directly owns 79,717 shares in the company, valued at approximately $5,973,991.98. The disclosure for this sale can be found here. Insiders have sold a total of 194,856 shares of company stock worth $14,693,582 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ICE. Capital World Investors grew its stake in shares of Intercontinental Exchange by 464.9% during the 3rd quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock worth $1,125,712,000 after purchasing an additional 12,370,546 shares during the period. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $379,351,000. Oregon Public Employees Retirement Fund grew its stake in shares of Intercontinental Exchange by 7,340.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,677,692 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 4,614,825 shares during the period. Millennium Management LLC grew its stake in shares of Intercontinental Exchange by 153.4% during the 4th quarter. Millennium Management LLC now owns 3,674,867 shares of the financial services provider’s stock worth $276,828,000 after purchasing an additional 2,224,434 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Intercontinental Exchange by 533.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,734,836 shares of the financial services provider’s stock worth $130,685,000 after purchasing an additional 1,461,030 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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