Bank of America Cuts Intercontinental Exchange (NYSE:ICE) Price Target to $153.00

Intercontinental Exchange (NYSE:ICE - Free Report) had its price target trimmed by Bank of America from $156.00 to $153.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

Several other analysts also recently weighed in on ICE. Rosenblatt Securities increased their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a buy rating in a research note on Friday, February 9th. Morgan Stanley increased their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. Piper Sandler increased their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a report on Monday, February 12th. Finally, Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of Moderate Buy and an average price target of $148.08.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE traded up $0.22 during trading hours on Friday, hitting $131.20. 2,263,445 shares of the company were exchanged, compared to its average volume of 2,397,741. The company has a market cap of $75.13 billion, a PE ratio of 31.09, a PEG ratio of 2.07 and a beta of 1.02. The firm's 50 day moving average is $136.36 and its 200-day moving average is $124.27. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm's revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.37%. Intercontinental Exchange's payout ratio is currently 42.86%.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company's stock, valued at approximately $2,544,198.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company's stock, valued at approximately $2,544,198.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,491 shares of company stock worth $21,454,204. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently bought and sold shares of ICE. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider's stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Norges Bank bought a new position in Intercontinental Exchange during the fourth quarter worth about $839,259,000. T. Rowe Price Investment Management Inc. grew its holdings in Intercontinental Exchange by 45.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider's stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the period. Morgan Stanley grew its holdings in Intercontinental Exchange by 18.9% during the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider's stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares during the period. Finally, Capital World Investors grew its holdings in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider's stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. 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.