Intercontinental Exchange’s (ICE) Outperform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Intercontinental Exchange (NYSE:ICE) in a research report report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $168.00 target price on the financial services provider’s stock.

Several other research analysts also recently issued reports on ICE. Rosenblatt Securities reiterated a buy rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Morgan Stanley upped their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Argus reissued a buy rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and upped their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Barclays increased their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $154.79.

Intercontinental Exchange Stock Down 0.2 %

ICE stock opened at $153.38 on Tuesday. The business has a 50 day moving average of $142.48 and a 200 day moving average of $137.08. The firm has a market cap of $87.98 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $154.02. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. On average, research analysts forecast that Intercontinental Exchange will post 6 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Insiders Place Their Bets

In related news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,992 shares of company stock worth $9,197,801. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $6,334,000. Prime Capital Investment Advisors LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth about $415,000. Valley National Advisers Inc. increased its stake in Intercontinental Exchange by 27.7% in the 4th quarter. Valley National Advisers Inc. now owns 466 shares of the financial services provider’s stock worth $59,000 after buying an additional 101 shares during the period. Busey Bank bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $303,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $45,000. Hedge funds and other 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.