Intercontinental Exchange (NYSE:ICE) had its price target increased by Deutsche Bank from $80.00 to $81.00 in a research report released on Friday. They currently have a buy rating on the financial services provider’s stock.
ICE has been the subject of several other research reports. Zacks Investment Research cut Intercontinental Exchange from a buy rating to a hold rating in a research note on Tuesday, March 6th. JPMorgan Chase upgraded Intercontinental Exchange from a neutral rating to an overweight rating and upped their price target for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Argus upped their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, December 20th. Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They set a buy rating and a $90.00 price target for the company. Finally, Bank of America cut their price target on Intercontinental Exchange from $83.00 to $82.00 and set a buy rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $77.77.
Intercontinental Exchange stock opened at $70.62 on Friday. Intercontinental Exchange has a 12 month low of $57.91 and a 12 month high of $76.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $41,121.61, a PE ratio of 23.94, a P/E/G ratio of 2.47 and a beta of 0.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio is presently 32.54%.
In related news, CEO Jeffrey C. Sprecher sold 132,245 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total transaction of $9,698,848.30. Following the transaction, the chief executive officer now owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Charles A. Vice sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $71.97, for a total value of $3,598,500.00. Following the transaction, the insider now directly owns 432,507 shares in the company, valued at approximately $31,127,528.79. The disclosure for this sale can be found here. Insiders have sold 237,074 shares of company stock worth $17,377,209 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of ICE. Brown Advisory Inc. grew its holdings in Intercontinental Exchange by 42.9% in the third quarter. Brown Advisory Inc. now owns 9,617 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 2,887 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in Intercontinental Exchange in the third quarter valued at $380,000. Synovus Financial Corp grew its holdings in Intercontinental Exchange by 10.8% in the third quarter. Synovus Financial Corp now owns 8,922 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 870 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Intercontinental Exchange by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,950 shares of the financial services provider’s stock valued at $3,515,000 after purchasing an additional 1,000 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in Intercontinental Exchange by 7.6% in the third quarter. First Republic Investment Management Inc. now owns 104,168 shares of the financial services provider’s stock valued at $7,157,000 after purchasing an additional 7,320 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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