Barclays Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $173.00

Intercontinental Exchange (NYSE:ICE) had its price target decreased by Barclays from $179.00 to $173.00 in a report released on Friday, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on ICE. Citigroup raised their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE ICE opened at $154.49 on Friday. The stock has a market capitalization of $88.70 billion, a P/E ratio of 36.61, a PEG ratio of 2.35 and a beta of 1.08. Intercontinental Exchange has a one year low of $107.40 and a one year high of $167.99. The firm’s 50 day simple moving average is $161.86 and its two-hundred day simple moving average is $148.61. 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 (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company earned $1.46 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange will post 6.13 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange 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 completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC grew its stake in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

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.