Intercontinental Exchange (NYSE:ICE) Price Target Cut to $173.00 by Analysts at Barclays

Intercontinental Exchange (NYSE:ICE) had its target price trimmed by Barclays from $179.00 to $173.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $1.23 on Friday, hitting $154.64. 4,510,332 shares of the company’s stock were exchanged, compared to its average volume of 2,546,484. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 12 month low of $104.91 and a 12 month high of $167.99. The stock has a market cap of $88.79 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. The company has a 50 day moving average of $161.98 and a 200 day moving average of $148.20.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange will post 6.13 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio is currently 44.55%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently modified their holdings of ICE. Vanguard Group Inc. increased its stake in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. CCLA Investment Management grew its position in shares of Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after purchasing an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $124,508,000. Janus Henderson Group PLC lifted its holdings in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after acquiring an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $93,340,000. 89.30% of the stock is owned by institutional investors.

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.