Intercontinental Exchange (NYSE:ICE) Upgraded at StockNews.com

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other analysts have also issued research reports about the stock. Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays lowered their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. TD Cowen started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America boosted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $155.55 on Tuesday. The stock has a fifty day moving average of $160.97 and a 200-day moving average of $149.92. The stock has a market capitalization of $89.31 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 52 week low of $110.64 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange’s payout ratio is 42.65%.

Insider Buying and Selling

In other news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. This represents a 11.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after purchasing an additional 169,922 shares in the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the third quarter worth about $706,000. M&T Bank Corp raised its holdings in shares of Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares during the last quarter. LRI Investments LLC lifted its position in Intercontinental Exchange by 2,300.4% in the 3rd quarter. LRI Investments LLC now owns 24,796 shares of the financial services provider’s stock valued at $3,983,000 after acquiring an additional 23,763 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA boosted its stake in Intercontinental Exchange by 8.6% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 106,490 shares of the financial services provider’s stock valued at $17,106,000 after purchasing an additional 8,413 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.