Bank of America Has Lowered Expectations for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE - Free Report) had its target price cut by Bank of America from $237.00 to $230.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Several other research analysts have also recently weighed in on ICE. Barclays increased their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.47.

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Intercontinental Exchange Stock Down 1.4 %

ICE traded down $2.21 during trading on Wednesday, reaching $154.53. The company had a trading volume of 6,948,425 shares, compared to its average volume of 2,867,729. The company has a market cap of $88.78 billion, a P/E ratio of 32.33, a PEG ratio of 2.10 and a beta of 1.09. Intercontinental Exchange has a 12 month low of $124.34 and a 12 month high of $177.45. The business's fifty day moving average price is $168.49 and its 200 day moving average price is $160.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts anticipate that Intercontinental Exchange will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.24%. Intercontinental Exchange's dividend payout ratio is 40.17%.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 17,104 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company's stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors have recently made changes to their positions in the stock. GoalVest Advisory LLC lifted its holdings in shares of Intercontinental Exchange by 38.8% in the 1st quarter. GoalVest Advisory LLC now owns 959 shares of the financial services provider's stock worth $165,000 after acquiring an additional 268 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after purchasing an additional 2,255,507 shares during the period. Moody National Bank Trust Division increased its holdings in Intercontinental Exchange by 1.3% during the 1st quarter. Moody National Bank Trust Division now owns 9,649 shares of the financial services provider's stock valued at $1,664,000 after purchasing an additional 124 shares during the period. Versant Capital Management Inc lifted its holdings in Intercontinental Exchange by 27.5% in the 1st quarter. Versant Capital Management Inc now owns 760 shares of the financial services provider's stock worth $131,000 after buying an additional 164 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in Intercontinental Exchange by 13.1% in the first quarter. Central Pacific Bank Trust Division now owns 16,943 shares of the financial services provider's stock valued at $2,923,000 after acquiring an additional 1,961 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Company Profile

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.