Intercontinental Exchange (NYSE:ICE) Upgraded at Bank of America

Bank of America upgraded shares of Intercontinental Exchange (NYSE:ICEGet Rating) from a neutral rating to a buy rating in a research report sent to investors on Thursday, MarketBeat reports. Bank of America currently has $132.00 price objective on the financial services provider’s stock, up from their previous price objective of $116.00.

Several other analysts also recently issued reports on ICE. Citigroup initiated coverage on Intercontinental Exchange in a research note on Tuesday, October 11th. They issued a neutral rating and a $102.00 price target for the company. Rosenblatt Securities began coverage on shares of Intercontinental Exchange in a research note on Tuesday, August 16th. They set a buy rating and a $164.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $123.00 to $124.00 and gave the stock a buy rating in a research note on Tuesday, November 15th. StockNews.com cut shares of Intercontinental Exchange from a hold rating to a sell rating in a report on Saturday, November 12th. Finally, TheStreet cut shares of Intercontinental Exchange from a b- rating to a c+ rating in a report on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of Moderate Buy and an average target price of $126.17.

Intercontinental Exchange Stock Up 0.1 %

NYSE:ICE opened at $104.21 on Thursday. The firm has a market capitalization of $58.21 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. Intercontinental Exchange has a twelve month low of $88.60 and a twelve month high of $138.46. The stock’s 50 day moving average price is $95.57 and its two-hundred day moving average price is $98.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.81.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, December 14th. Intercontinental Exchange’s dividend payout ratio is currently 33.70%.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $107.73, for a total value of $172,368.00. Following the completion of the sale, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $107.73, for a total transaction of $172,368.00. Following the completion of the transaction, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.00, for a total value of $267,500.00. Following the completion of the transaction, the general counsel now owns 42,007 shares of the company’s stock, valued at approximately $4,494,749. The disclosure for this sale can be found here. Insiders sold a total of 93,977 shares of company stock valued at $8,998,814 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Hedge funds have recently modified their holdings of the stock. Atticus Wealth Management LLC increased its position in shares of Intercontinental Exchange by 111.8% during the second quarter. Atticus Wealth Management LLC now owns 288 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. Cowa LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $27,000. IMA Wealth Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $28,000. WASHINGTON TRUST Co increased its position in shares of Intercontinental Exchange by 173.9% during the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Intercontinental Exchange by 48.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 319 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. 87.00% of the stock is currently owned by institutional investors and hedge funds.

About Intercontinental Exchange

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Analyst Recommendations for Intercontinental Exchange (NYSE:ICE)

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