Intercontinental Exchange (NYSE:ICE) Given New $164.00 Price Target at Rosenblatt Securities

Intercontinental Exchange (NYSE:ICEFree Report) had its price target boosted by Rosenblatt Securities from $154.00 to $164.00 in a report released on Friday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the financial services provider’s stock.

ICE has been the topic of several other research reports. Raymond James lifted their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a strong-buy rating in a research report on Friday, January 5th. StockNews.com lowered Intercontinental Exchange from a hold rating to a sell rating in a research report on Tuesday, February 6th. Citigroup boosted their target price on Intercontinental Exchange from $130.00 to $146.00 and gave the stock a buy rating in a research report on Friday, January 12th. Morgan Stanley raised their price target on Intercontinental Exchange from $119.00 to $124.00 and gave the company an equal weight rating in a report on Tuesday, November 28th. Finally, Barclays raised Intercontinental Exchange from an equal weight rating to an overweight rating and upped their price objective for the stock from $120.00 to $148.00 in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $142.15.

Get Our Latest Research Report on ICE

Intercontinental Exchange Price Performance

ICE opened at $135.49 on Friday. The stock has a market capitalization of $77.58 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.74 and a beta of 1.01. The firm has a 50 day moving average price of $125.53 and a 200-day moving average price of $116.97. Intercontinental Exchange has a twelve month low of $94.16 and a twelve month high of $136.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange will post 5.84 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.00%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total value of $140,520.00. Following the completion of the sale, the chief accounting officer now directly owns 18,677 shares of the company’s stock, valued at approximately $2,241,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total transaction of $140,520.00. Following the completion of the sale, the chief accounting officer now directly owns 18,677 shares of the company’s stock, valued at approximately $2,241,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $114.46, for a total value of $183,136.00. Following the sale, the senior vice president now directly owns 16,802 shares of the company’s stock, valued at $1,923,156.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,384 shares of company stock worth $10,222,586. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Altshuler Shaham Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Sachetta LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

About Intercontinental Exchange

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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.

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