Intercontinental Exchange Inc. (NYSE:ICE) had its target price increased by Citigroup Inc. from $67.00 to $75.00 in a report published on Thursday. Citigroup Inc. currently has a neutral rating on the financial services provider’s stock.
Several other analysts have also recently issued reports on the stock. Barclays PLC upped their price target on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an overweight rating in a report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a buy rating and issued a $73.00 price target on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Zacks Investment Research cut shares of Intercontinental Exchange from a hold rating to a sell rating in a report on Tuesday, September 12th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $73.00 price target on shares of Intercontinental Exchange in a report on Sunday, October 8th. Finally, Royal Bank Of Canada raised shares of Intercontinental Exchange from a sector perform rating to an outperform rating and upped their price target for the company from $65.00 to $70.00 in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $72.33.
Shares of Intercontinental Exchange (NYSE:ICE) traded down 1.09% during midday trading on Thursday, reaching $66.12. 6,052,921 shares of the company traded hands. Intercontinental Exchange has a 12 month low of $52.27 and a 12 month high of $71.24. The company has a 50 day moving average of $67.52 and a 200 day moving average of $64.22. The firm has a market capitalization of $7.61 billion, a P/E ratio of 24.50 and a beta of 0.74.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, equities research analysts predict that Intercontinental Exchange will post $2.95 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,420 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total transaction of $836,625.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold 155,550 shares of company stock worth $10,394,455 over the last three months. 1.50% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of ICE. APG Asset Management N.V. grew its position in shares of Intercontinental Exchange by 0.9% during the third quarter. APG Asset Management N.V. now owns 3,183,077 shares of the financial services provider’s stock worth $218,677,000 after acquiring an additional 28,300 shares during the last quarter. Skylands Capital LLC grew its position in shares of Intercontinental Exchange by 15.2% during the third quarter. Skylands Capital LLC now owns 38,000 shares of the financial services provider’s stock worth $2,611,000 after acquiring an additional 5,000 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of Intercontinental Exchange during the third quarter worth about $1,073,000. PGGM Investments grew its position in shares of Intercontinental Exchange by 5.1% during the third quarter. PGGM Investments now owns 298,509 shares of the financial services provider’s stock worth $20,508,000 after acquiring an additional 14,567 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in shares of Intercontinental Exchange by 2.1% during the third quarter. Tandem Investment Advisors Inc. now owns 135,441 shares of the financial services provider’s stock worth $9,305,000 after acquiring an additional 2,803 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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