Intercontinental Exchange (NYSE:ICE) had its price objective lifted by Deutsche Bank from $80.00 to $81.00 in a research report sent to investors on Friday. Deutsche Bank currently has a buy rating on the financial services provider’s stock.
A number of other equities research analysts have also issued reports on the company. Argus lifted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Intercontinental Exchange from a hold rating to a buy rating and set a $78.00 price target for the company in a research note on Wednesday, January 3rd. Bank of America decreased their price target on Intercontinental Exchange from $83.00 to $82.00 and set a buy rating for the company in a research note on Thursday, February 8th. JPMorgan Chase upgraded Intercontinental Exchange from a neutral rating to an overweight rating and raised their price target for the company from $76.00 to $83.00 in a research note on Tuesday, February 20th. Finally, Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a buy rating and a $90.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $77.77.
Intercontinental Exchange stock traded down $1.91 during midday trading on Friday, reaching $70.62. The stock had a trading volume of 1,833,224 shares, compared to its average volume of 2,800,344. Intercontinental Exchange has a 1-year low of $57.91 and a 1-year high of $76.30. The firm has a market cap of $42,233.80, a PE ratio of 23.94, a P/E/G ratio of 2.54 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $0.71 EPS. Intercontinental Exchange’s revenue for the quarter was up .5% compared to the same quarter last year. equities research analysts predict that Intercontinental Exchange will post 3.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.36%. Intercontinental Exchange’s dividend payout ratio is currently 32.54%.
In other news, CFO Scott A. Hill sold 7,526 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $75.00, for a total transaction of $564,450.00. Following the completion of the transaction, the chief financial officer now directly owns 202,371 shares in the company, valued at approximately $15,177,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Charles A. Vice sold 50,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $71.97, for a total value of $3,598,500.00. Following the transaction, the insider now owns 432,507 shares of the company’s stock, valued at $31,127,528.79. The disclosure for this sale can be found here. Insiders have sold a total of 237,074 shares of company stock valued at $17,377,209 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Chemical Bank boosted its stake in Intercontinental Exchange by 10.5% in the 4th quarter. Chemical Bank now owns 24,546 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 2,341 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Intercontinental Exchange by 10.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,944 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 813 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Intercontinental Exchange by 7.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 100,638 shares of the financial services provider’s stock valued at $7,101,000 after purchasing an additional 6,661 shares during the period. Envestnet Asset Management Inc. boosted its stake in Intercontinental Exchange by 7.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 85,542 shares of the financial services provider’s stock valued at $6,037,000 after purchasing an additional 5,976 shares during the period. Finally, CNB Bank bought a new stake in Intercontinental Exchange in the 4th quarter valued at $448,000. Institutional investors own 90.73% of the company’s stock.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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