Intercontinental Exchange Inc. (NYSE:ICE) Receives $193.80 Consensus Target Price from Brokerages

Shares of Intercontinental Exchange Inc. (NYSE:ICEGet Free Report) have been given an average rating of “Buy” by the eleven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $194.10.

Several analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. UBS Group reiterated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th.

Read Our Latest Research Report on ICE

Intercontinental Exchange Stock Down 1.9%

Shares of NYSE ICE opened at $155.04 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $87.82 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. The stock’s fifty day simple moving average is $160.21 and its two-hundred day simple moving average is $159.99. Intercontinental Exchange has a 12-month low of $143.17 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange will post 8.11 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 30.28%.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 3,865 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the transaction, the president owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This trade represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 348,418 shares of company stock worth $54,196,631. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. J. Stern & Co. LLP raised its stake in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. Norges Bank purchased a new position in Intercontinental Exchange in the 4th quarter worth $1,418,228,000. Viking Global Investors LP purchased a new position in Intercontinental Exchange in the 4th quarter worth $777,926,000. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Finally, Boston Partners raised its stake in Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after acquiring an additional 1,914,851 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

(Get Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

See Also

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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