Intercontinental Exchange (NYSE:ICE) Price Target Raised to $163.00

Intercontinental Exchange (NYSE:ICE) had its price objective increased by Deutsche Bank Aktiengesellschaft from $160.00 to $163.00 in a research report sent to investors on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the company. Barclays lowered their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, TD Cowen started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $155.86 on Monday. The business’s 50-day moving average price is $161.33 and its two-hundred day moving average price is $149.66. Intercontinental Exchange has a twelve month low of $108.94 and a twelve month high of $167.99. The stock has a market cap of $89.49 billion, a P/E ratio of 36.93, a PEG ratio of 2.60 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.65%.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC boosted its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its position in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $29,000. 89.30% of the stock is currently 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.