Intercontinental Exchange (NYSE:ICE) Price Target Raised to $151.00

Intercontinental Exchange (NYSE:ICEFree Report) had its target price upped by JPMorgan Chase & Co. from $142.00 to $151.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their target price on Intercontinental Exchange from $130.00 to $146.00 and gave the stock a buy rating in a research note on Friday, January 12th. Rosenblatt Securities boosted their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a buy rating in a research note on Friday. Morgan Stanley boosted their target price on Intercontinental Exchange from $119.00 to $124.00 and gave the company an equal weight rating in a report on Tuesday, November 28th. Barclays raised Intercontinental Exchange from an equal weight rating to an overweight rating and boosted their target price for the company from $120.00 to $148.00 in a report on Monday, January 8th. Finally, Raymond James upped their price objective 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 investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $139.15.

Check Out Our Latest Analysis on Intercontinental Exchange

Intercontinental Exchange Price Performance

ICE stock opened at $135.49 on Friday. The business has a 50 day moving average price of $125.12 and a 200 day moving average price of $116.83. The stock has a market cap of $75.74 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.75 and a beta of 1.01. Intercontinental Exchange has a fifty-two week low of $94.16 and a fifty-two week high of $135.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research analysts anticipate that Intercontinental Exchange will post 5.84 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.33%. Intercontinental Exchange’s dividend payout ratio is 40.00%.

Insider Buying and Selling

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total transaction of $140,520.00. Following the completion of the sale, the chief accounting officer now directly owns 18,677 shares in the company, valued at $2,241,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the sale, the insider now owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,384 shares of company stock worth $10,222,586. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $29,000. Sachetta LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 87.91% of the company’s stock.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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