Intercontinental Exchange Inc. (NYSE:ICE) Receives $194.42 Average PT from Brokerages

Key Points

• Intercontinental Exchange Inc. (NYSE:ICE) has a consensus recommendation of "Moderate Buy" from twelve analysts, with an average 12-month price target of $194.42.
• In its latest quarterly earnings, the company reported $1.72 earnings per share, surpassing estimates slightly and showing an 8.0% increase in revenue compared to the same quarter last year.
• The firm recently announced a quarterly dividend of $0.48 per share, resulting in an annualized dividend yield of 1.04%.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $194.42.

Several equities research analysts have recently weighed in on ICE shares. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays increased their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th.

Intercontinental Exchange Trading Up 0.5%

Intercontinental Exchange stock traded up $0.94 during trading hours on Friday, hitting $184.52. The company had a trading volume of 2,588,779 shares, compared to its average volume of 1,851,322. The firm has a market cap of $105.84 billion, a P/E ratio of 38.20, a P/E/G ratio of 2.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange has a 1 year low of $142.29 and a 1 year high of $185.30. The company has a 50-day moving average price of $179.80 and a two-hundred day moving average price of $169.84.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The company's revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director owned 15,000 shares in the company, valued at $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,119 shares of company stock valued at $40,524,217. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. LPL Financial LLC lifted its holdings in Intercontinental Exchange by 13.9% during the fourth quarter. LPL Financial LLC now owns 454,708 shares of the financial services provider's stock valued at $67,757,000 after purchasing an additional 55,453 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $294,000. Modern Wealth Management LLC lifted its holdings in Intercontinental Exchange by 31.5% during the fourth quarter. Modern Wealth Management LLC now owns 1,839 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 441 shares in the last quarter. Finally, TIAA Trust National Association lifted its holdings in Intercontinental Exchange by 1.5% during the fourth quarter. TIAA Trust National Association now owns 11,689 shares of the financial services provider's stock valued at $1,742,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds 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.