Intercontinental Exchange (NYSE:ICE) Given New $137.00 Price Target at Raymond James

Intercontinental Exchange (NYSE:ICE) had its target price boosted by Raymond James from $133.00 to $137.00 in a report published on Tuesday, Benzinga reports. They currently have a strong-buy rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on ICE. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the company a buy rating in a report on Friday, August 4th. Barclays decreased their target price on shares of Intercontinental Exchange from $128.00 to $122.00 and set an equal weight rating on the stock in a report on Friday, August 4th. Rosenblatt Securities reiterated a buy rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Friday, August 4th. Citigroup raised shares of Intercontinental Exchange from a neutral rating to a buy rating and boosted their price target for the company from $117.00 to $130.00 in a research note on Friday, August 4th. Finally, StockNews.com began coverage on shares of Intercontinental Exchange in a research note on Thursday, August 17th. They issued a hold rating on the stock. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $133.00.

Intercontinental Exchange Stock Performance

ICE opened at $114.92 on Tuesday. The firm has a market capitalization of $64.39 billion, a PE ratio of 38.18, a PEG ratio of 2.29 and a beta of 0.93. Intercontinental Exchange has a twelve month low of $88.60 and a twelve month high of $118.79. The firm’s 50-day moving average price is $115.05 and its 200 day moving average price is $109.06. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. Intercontinental Exchange’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange will post 5.65 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, September 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 55.81%.

Insiders Place Their Bets

In other news, Director Martha A. Tirinnanzi sold 496 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $113.56, for a total value of $56,325.76. Following the completion of the transaction, the director now owns 2,878 shares of the company’s stock, valued at $326,825.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $113.99, for a total transaction of $182,384.00. Following the transaction, the senior vice president now directly owns 18,402 shares of the company’s stock, valued at $2,097,643.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 496 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $113.56, for a total transaction of $56,325.76. Following the transaction, the director now directly owns 2,878 shares in the company, valued at $326,825.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,636 shares of company stock worth $762,279. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ICE. GPS Wealth Strategies Group LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at $25,000. OLD Mission Capital LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Intercontinental Exchange by 187.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Spire Wealth Management raised its holdings in Intercontinental Exchange by 374.6% in the first quarter. Spire Wealth Management now owns 299 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 236 shares in the last quarter. Finally, Oakworth Capital Inc. raised its holdings in Intercontinental Exchange by 53.9% in the second quarter. Oakworth Capital Inc. now owns 297 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 104 shares in the last quarter. 87.91% of the stock is 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.