Intercontinental Exchange, Inc. (NYSE:ICE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $188.46.

ICE has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $177.43 on Thursday. The company has a 50 day simple moving average of $169.28 and a two-hundred day simple moving average of $163.78. Intercontinental Exchange has a fifty-two week low of $133.97 and a fifty-two week high of $180.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $101.78 billion, a PE ratio of 37.12, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. Research analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of Intercontinental Exchange stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the transaction, the insider now owns 15,658 shares in the company, valued at $2,732,634.16. This represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,354 shares of company stock valued at $40,512,695. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently made changes to their positions in the business. Kestra Private Wealth Services LLC boosted its position in shares of Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the last quarter. Governors Lane LP increased its stake in Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. National Pension Service raised its holdings in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after buying an additional 198,311 shares during the period. Hahn Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 69.8% in the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock worth $10,600,000 after acquiring an additional 29,233 shares during the last quarter. Finally, Tema Etfs LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth about $1,107,000. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.