Intercontinental Exchange (NYSE:ICE) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Intercontinental Exchange (NYSE:ICE) from a hold rating to a sell rating in a research note published on Friday.

A number of other equities analysts also recently issued reports on ICE. Barclays cut their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an overweight rating for the company in a report on Friday. Raymond James increased their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, January 5th. Citigroup boosted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a research note on Friday, April 19th. Finally, Piper Sandler boosted their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $147.92.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $0.78 on Friday, hitting $131.28. 1,128,172 shares of the company’s stock were exchanged, compared to its average volume of 2,409,724. The firm has a market cap of $75.30 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 2.14 and a beta of 1.02. The firm’s 50-day moving average price is $135.01 and its two-hundred day moving average price is $126.02. Intercontinental Exchange has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. On average, research analysts expect that Intercontinental Exchange will post 5.95 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

Insider Activity at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. In the last quarter, insiders sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ICE. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the third quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $26,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth $26,000. 89.30% of the stock is currently owned by hedge funds and other 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.