Intercontinental Exchange (NYSE:ICE) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Intercontinental Exchange (NYSE:ICE) in a report issued on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $164.00 target price on the financial services provider’s stock.

ICE has been the topic of several other reports. UBS Group raised their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a buy rating in a research report on Monday, February 12th. Barclays lifted their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an overweight rating in a research note on Monday, April 8th. StockNews.com raised shares of Intercontinental Exchange from a sell rating to a hold rating in a research report on Wednesday, February 14th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an outperform rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $147.92.

Intercontinental Exchange Trading Up 0.6 %

Shares of Intercontinental Exchange stock traded up $0.78 during trading on Friday, reaching $131.28. The company’s stock had a trading volume of 1,128,172 shares, compared to its average volume of 2,409,724. The company has a market cap of $75.30 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.14 and a beta of 1.02. The firm’s 50-day moving average is $135.01 and its two-hundred day moving average is $126.02. Intercontinental Exchange has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

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

Intercontinental Exchange Dividend Announcement

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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is 41.28%.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. 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. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors have recently modified their holdings of the business. Annapolis Financial Services LLC lifted its stake in 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 during the period. Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the first quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC grew its position in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 93 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.