Intercontinental Exchange (NYSE:ICE) Price Target Cut to $230.00 by Analysts at Bank of America

Intercontinental Exchange (NYSE:ICE) had its price target lowered by Bank of America from $237.00 to $230.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Price Performance

Shares of ICE opened at $170.43 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $168.31 and its 200 day moving average is $160.78. Intercontinental Exchange has a 12-month low of $124.34 and a 12-month high of $177.45. The stock has a market cap of $97.92 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after buying an additional 91 shares during the last quarter. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.