Intercontinental Exchange (NYSE:ICE) Price Target Lowered to $150.00 at Barclays

Intercontinental Exchange (NYSE:ICE) had its target price trimmed by Barclays from $155.00 to $150.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Raymond James upped their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, January 5th. Keefe, Bruyette & Woods cut their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a research note on Friday. Piper Sandler boosted their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a report on Monday, February 12th. UBS Group raised their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a buy rating in a report on Monday, February 12th. Finally, Citigroup boosted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $147.92.

Intercontinental Exchange Stock Performance

ICE traded up $0.78 on Friday, hitting $131.28. The company had a trading volume of 1,128,172 shares, compared to its average volume of 2,409,724. The stock has a market cap of $75.30 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $135.01 and its 200 day moving average price is $126.02. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43.

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

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s payout ratio is presently 41.28%.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction on Monday, March 4th. The stock was acquired at an average cost 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 $6,504,420.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,832 shares of company stock worth $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Annapolis Financial Services LLC boosted its holdings in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange during the 3rd quarter worth $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the 1st quarter worth about $26,000. Institutional investors and hedge funds 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.