Intercontinental Exchange (NYSE:ICE) Stock Rating Reaffirmed by Rosenblatt Securities

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

A number of other equities research analysts also recently weighed in on the company. UBS Group upped their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a buy rating in a research report on Monday, February 12th. Raymond James upped their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a strong-buy rating in a research report on Friday, January 5th. Barclays upped their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Bank of America dropped their price target on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating on the stock in a report on Friday, April 19th. Finally, StockNews.com raised Intercontinental Exchange from a sell rating to a hold rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $147.92.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $131.28 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $134.88 and a 200-day simple moving average of $126.17. The company has a market cap of $75.30 billion, a PE ratio of 30.11, a P/E/G ratio of 2.14 and a beta of 1.02. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43.

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

Intercontinental Exchange Dividend Announcement

The company 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 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 41.28%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now owns 17,242 shares in the company, valued at $2,276,461.26. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 in the last three months. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently modified their holdings of the stock. Annapolis Financial Services LLC grew 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. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the first quarter worth $26,000. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Venturi Wealth Management LLC boosted its holdings in Intercontinental Exchange by 82.3% in the first 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 in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. 89.30% of the stock is currently 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.