Intercontinental Exchange (NYSE:ICE) Given New $151.00 Price Target at JPMorgan Chase & Co.

Intercontinental Exchange (NYSE:ICE) had its target price lifted by JPMorgan Chase & Co. from $147.00 to $151.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms also recently commented on ICE. Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 4th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Barclays reduced their price target on Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating on the stock in a research report on Friday. Rosenblatt Securities reiterated a buy rating and set a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday. Finally, Raymond James increased their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Stock Up 3.1 %

Shares of NYSE ICE traded up $3.96 during trading hours on Friday, hitting $130.50. The company had a trading volume of 3,991,238 shares, compared to its average volume of 2,404,087. The firm’s 50 day moving average is $135.01 and its 200-day moving average is $125.81. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43. The stock has a market capitalization of $74.73 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

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

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Insider Activity

In related news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of ICE. Geneos Wealth Management Inc. grew its stake in Intercontinental Exchange by 4.5% during the first quarter. Geneos Wealth Management Inc. now owns 23,352 shares of the financial services provider’s stock worth $3,209,000 after purchasing an additional 1,003 shares during the period. 9258 Wealth Management LLC raised its position in shares of Intercontinental Exchange by 2.6% during the first quarter. 9258 Wealth Management LLC now owns 7,803 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 196 shares during the period. Bancreek Capital Management LP raised its holdings in shares of Intercontinental Exchange by 1.3% in the 1st quarter. Bancreek Capital Management LP now owns 54,231 shares of the financial services provider’s stock worth $7,453,000 after acquiring an additional 674 shares during the last quarter. Catalina Capital Group LLC bought a new position in Intercontinental Exchange during the 1st quarter valued at $222,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Intercontinental Exchange in the first quarter valued at about $48,616,000. 89.30% of the stock is 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.