Intercontinental Exchange (NYSE:ICE) Stock Price Expected to Rise, Barclays Analyst Says

Intercontinental Exchange (NYSE:ICE - Free Report) had its price objective increased by Barclays from $198.00 to $206.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider's stock.

A number of other research firms have also recently weighed in on ICE. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley raised their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Bank of America cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.58.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE traded down $1.37 during midday trading on Thursday, reaching $180.45. The company had a trading volume of 1,576,878 shares, compared to its average volume of 2,970,341. Intercontinental Exchange has a 1-year low of $142.29 and a 1-year high of $183.99. The stock has a market cap of $103.51 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The firm has a 50 day simple moving average of $178.47 and a 200-day simple moving average of $167.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $1.48 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares of the company's stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $2,749,500. The trade was a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,749 shares of company stock worth $40,942,387 over the last 90 days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Walter Public Investments Inc. boosted its stake in shares of Intercontinental Exchange by 2.6% in the 2nd quarter. Walter Public Investments Inc. now owns 139,088 shares of the financial services provider's stock valued at $25,518,000 after buying an additional 3,502 shares during the period. Congress Park Capital LLC boosted its stake in shares of Intercontinental Exchange by 7.0% in the 2nd quarter. Congress Park Capital LLC now owns 1,900 shares of the financial services provider's stock valued at $349,000 after buying an additional 125 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of Intercontinental Exchange by 8.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 29,605 shares of the financial services provider's stock valued at $5,380,000 after buying an additional 2,378 shares during the period. UMB Bank n.a. boosted its stake in shares of Intercontinental Exchange by 4.4% in the 2nd quarter. UMB Bank n.a. now owns 12,286 shares of the financial services provider's stock valued at $2,254,000 after buying an additional 514 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Intercontinental Exchange by 2.1% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 3,159 shares of the financial services provider's stock valued at $580,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

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.