Analysts Set Intercontinental Exchange, Inc. (NYSE:ICE) Target Price at $145.83

Intercontinental Exchange, Inc. (NYSE:ICE) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $145.83.

ICE has been the subject of several research reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Raymond James increased their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Rosenblatt Securities upped their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Piper Sandler upped their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th.

Insider Activity

In other news, SVP Douglas Foley sold 7,070 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the transaction, the senior vice president now directly owns 18,383 shares in the company, valued at $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the transaction, the chief financial officer now owns 12,061 shares of the company’s stock, valued at $1,640,296. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,617 shares of company stock worth $20,784,288. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its position in shares of Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after acquiring an additional 8,320 shares during the period. Quadrant Capital Group LLC grew its stake in Intercontinental Exchange by 3.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,760 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 155 shares in the last quarter. First County Bank CT grew its stake in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 100 shares in the last quarter. LPL Financial LLC grew its stake in shares of Intercontinental Exchange by 6.2% in the 3rd quarter. LPL Financial LLC now owns 303,576 shares of the financial services provider’s stock valued at $33,399,000 after buying an additional 17,804 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Intercontinental Exchange by 16.6% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 16,856 shares of the financial services provider’s stock valued at $1,854,000 after buying an additional 2,402 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Intercontinental Exchange Trading Down 0.2 %

Shares of Intercontinental Exchange stock opened at $134.38 on Tuesday. The company has a market capitalization of $76.95 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $132.82 and a 200 day moving average of $120.92. Intercontinental Exchange has a fifty-two week low of $95.66 and a fifty-two week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued 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. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. Intercontinental Exchange’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange will post 5.91 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.34%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Intercontinental Exchange Company Profile

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.