Intercontinental Exchange (NYSE:ICE) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Intercontinental Exchange (NYSE:ICEGet Rating) in a report issued on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on ICE. Citigroup boosted their target price on shares of Intercontinental Exchange from $110.00 to $117.00 and gave the company a neutral rating in a report on Friday, February 3rd. Raymond James dropped their price objective on Intercontinental Exchange from $130.00 to $126.00 and set a strong-buy rating for the company in a report on Friday, February 3rd. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $125.00 to $122.00 and set a market perform rating on the stock in a report on Wednesday, March 1st. Bank of America upgraded Intercontinental Exchange from a neutral rating to a buy rating and upped their price target for the stock from $116.00 to $132.00 in a research note on Thursday, November 17th. Finally, TheStreet raised Intercontinental Exchange from a c+ rating to a b- rating in a research note on Wednesday, January 25th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $129.91.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $97.00 on Thursday. Intercontinental Exchange has a 1-year low of $88.60 and a 1-year high of $137.40. The firm has a 50 day simple moving average of $105.23 and a 200-day simple moving average of $101.44. The firm has a market cap of $54.21 billion, a PE ratio of 37.74, a P/E/G ratio of 3.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.05 and a quick ratio of 1.05.

Intercontinental Exchange (NYSE:ICEGet Rating) last issued its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange will post 5.4 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a dividend of $0.42 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Thursday, March 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 65.37%.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total transaction of $167,680.00. Following the sale, the senior vice president now owns 21,481 shares in the company, valued at $2,251,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the transaction, the chief executive officer now owns 1,203,104 shares in the company, valued at $125,146,878.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total value of $167,680.00. Following the sale, the senior vice president now owns 21,481 shares of the company’s stock, valued at approximately $2,251,208.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the business. MADDEN SECURITIES Corp acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $26,000. Red Tortoise LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $26,000. OLD Mission Capital LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $26,000. Cowa LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth about $27,000. Finally, Concord Wealth Partners acquired a new position in Intercontinental Exchange in the fourth quarter worth about $27,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

(Get Rating)

Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.

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