Intercontinental Exchange (NYSE:ICE) PT Lowered to $153.00 at Bank of America

Intercontinental Exchange (NYSE:ICE) had its price target decreased by Bank of America from $156.00 to $153.00 in a report published on Friday, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on ICE. JPMorgan Chase & Co. boosted their target price 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. Keefe, Bruyette & Woods restated an outperform rating and set a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an overweight rating in a report on Monday, February 12th. Finally, Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a strong-buy rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $148.08.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $131.20 on Friday. The stock has a fifty day moving average of $136.27 and a 200 day moving average of $124.42. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The firm has a market capitalization of $75.13 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.07 and a beta of 1.02. 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:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. Intercontinental Exchange’s payout ratio is 42.86%.

Insiders Place Their Bets

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the sale, 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. In the last 90 days, insiders sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pettyjohn Wood & White Inc. grew its stake in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares during the period. Western Pacific Wealth Management LP grew its stake in shares of Intercontinental Exchange by 4.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 80 shares during the period. Kampmann Melissa S. grew its stake in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock valued at $3,362,000 after acquiring an additional 85 shares during the period. Assetmark Inc. grew its stake in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after acquiring an additional 86 shares during the period. Finally, Marcum Wealth LLC grew its stake in shares of Intercontinental Exchange by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors 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.