By otakuyassine3@gmail.com 
Intercontinental Exchange (NYSE:ICE – Get Free Report) had its target price lowered by equities research analysts at Keefe, Bruyette & Woods from $183.00 to $178.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 24.34% from the company’s current price.
Several other analysts have also recently commented on ICE. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays dropped their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $175.20.
Read Our Latest Research Report on ICE
Intercontinental Exchange Trading Up 0.3 %
ICE traded up $0.36 during mid-day trading on Monday, reaching $143.16. The stock had a trading volume of 916,798 shares, compared to its average volume of 2,657,698. The stock has a market capitalization of $82.20 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.57 and a beta of 1.10. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day simple moving average is $154.09 and its two-hundred day simple moving average is $155.43.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. On average, equities analysts predict that Intercontinental Exchange will post 6.07 EPS for the current year.
Insider Buying and Selling
In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % 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, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,533 shares of company stock worth $1,196,279. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Intercontinental Exchange
A number of institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. FMR LLC increased its stake in shares of Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the period. Two Sigma Advisers LP raised its position in shares of Intercontinental Exchange by 285.9% during the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after acquiring an additional 1,301,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Intercontinental Exchange by 426.3% in the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after acquiring an additional 584,400 shares during the last quarter. Finally, Samlyn Capital LLC increased its position in Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after purchasing an additional 490,671 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.
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.
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