Analysts’ Recent Ratings Changes for Intercontinental Exchange (ICE)

Intercontinental Exchange (NYSE: ICE) has recently received a number of price target changes and ratings updates:

• 4/19/2024 – Intercontinental Exchange had its price target lowered by analysts at Bank of America Co. from $156.00 to $153.00. They now have a “buy” rating on the stock.
• 4/9/2024 – Intercontinental Exchange had its price target raised by analysts at Morgan Stanley from $139.00 to $142.00. They now have an “equal weight” rating on the stock.
• 4/8/2024 – Intercontinental Exchange had its price target raised by analysts at Barclays PLC from $153.00 to $155.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Intercontinental Exchange had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $152.00 price target on the stock.
• 4/4/2024 – Intercontinental Exchange had its price target raised by analysts at Citigroup Inc. from $155.00 to $160.00. They now have a “buy” rating on the stock.

Intercontinental Exchange Stock Up 0.2 %

ICE opened at $131.21 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $136.27 and a 200-day moving average price of $124.64. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The stock has a market capitalization of $75.13 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.08 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insider Buying and Selling

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Pettyjohn Wood & White Inc. grew its holdings in Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares in the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of Intercontinental Exchange by 4.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares in the last quarter. Kampmann Melissa S. boosted its holdings in shares of Intercontinental Exchange by 0.3% in the 4th quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock valued at $3,362,000 after buying an additional 85 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 86 shares in the last quarter. Finally, Marcum Wealth LLC boosted its holdings in shares of Intercontinental Exchange by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock valued at $385,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.