Royal Bank of Canada Reiterates “Outperform” Rating for Intercontinental Exchange (NYSE:ICE)

Royal Bank of Canada restated their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research report released on Friday, Benzinga reports. They currently have a $200.00 price objective on the financial services provider’s stock.

A number of other research analysts have also recently commented on the stock. Barclays raised their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Citigroup lifted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $154.49 on Friday. The company has a fifty day moving average price of $161.86 and a 200 day moving average price of $148.61. The stock has a market cap of $88.70 billion, a P/E ratio of 36.61, a PEG ratio of 2.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.99. Intercontinental Exchange has a one year low of $107.40 and a one year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Analysts anticipate that Intercontinental Exchange will post 6.13 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in ICE. Wolff Wiese Magana LLC boosted its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at $26,000. Financial Management Professionals Inc. lifted its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.