Intercontinental Exchange (NYSE:ICE) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Intercontinental Exchange (NYSE:ICE – Free Report) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research firms have also issued reports on ICE. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday. Finally, Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $195.10.

Get Our Latest Stock Analysis on ICE

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $169.47 on Friday. Intercontinental Exchange has a one year low of $143.17 and a one year high of $189.35. The stock has a market capitalization of $96.24 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.04 and a beta of 1.02. The company has a 50-day simple moving average of $165.44 and a 200-day simple moving average of $166.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, analysts predict that Intercontinental Exchange will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the transaction, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. This trade represents a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 168,709 shares of company stock valued at $25,955,387 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Intercontinental Exchange in the 2nd quarter valued at about $1,542,780,000. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Sands Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 97.3% during the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after buying an additional 2,620,310 shares during the period. C WorldWide Group Holding A S boosted its position in Intercontinental Exchange by 29,199.5% during the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after acquiring an additional 1,646,562 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its stake in Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

(Get Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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