Intercontinental Exchange (NYSE:ICE) Price Target Raised to $151.00 at JPMorgan Chase & Co.

Intercontinental Exchange (NYSE:ICE) had its target price lifted by JPMorgan Chase & Co. from $147.00 to $151.00 in a research report sent to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on ICE. Rosenblatt Securities reissued a buy rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday. Raymond James boosted their target price 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. Keefe, Bruyette & Woods cut their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a report on Friday. Citigroup lifted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 4th. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $147.92.

Intercontinental Exchange Price Performance

NYSE ICE traded up $3.96 on Friday, hitting $130.50. The company had a trading volume of 3,991,238 shares, compared to its average volume of 2,404,087. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market capitalization of $74.73 billion, a PE ratio of 29.93, a PEG ratio of 2.08 and a beta of 1.02. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43. The company’s fifty day moving average price is $135.01 and its 200-day moving average price is $125.81.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 EPS. As a group, analysts predict that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Buying and Selling at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in 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 valued at $13,956,000 after purchasing an additional 8,320 shares during the last quarter. LGT Group Foundation lifted its position in Intercontinental Exchange by 36.0% during the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after buying an additional 94,039 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after buying an additional 105,042 shares during the last quarter. Finally, First County Bank CT grew its holdings in Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after buying an additional 100 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.