Intercontinental Exchange (NYSE:ICE) Given New $160.00 Price Target at Deutsche Bank Aktiengesellschaft

Intercontinental Exchange (NYSE:ICE - Free Report) had its target price cut by Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the financial services provider's stock.

Several other research firms have also issued reports on ICE. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an "overweight" rating on the stock in a research report on Friday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Citigroup upped their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Finally, Raymond James downgraded shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.93.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $1.23 during mid-day trading on Friday, hitting $154.64. 3,715,485 shares of the stock traded hands, compared to its average volume of 2,546,484. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $88.79 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. The company's 50-day simple moving average is $161.98 and its 200-day simple moving average is $148.20. Intercontinental Exchange has a twelve month low of $104.91 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business earned $1.46 earnings per share. Intercontinental Exchange's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange will post 6.13 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange's dividend payout ratio is 44.55%.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company's stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company's stock, valued at $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider's stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider's stock worth $725,657,000 after purchasing an additional 218,516 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in Intercontinental Exchange by 0.6% during the 1st quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider's stock valued at $645,434,000 after purchasing an additional 28,771 shares during the period. Legal & General Group Plc grew its holdings in Intercontinental Exchange by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider's stock valued at $609,609,000 after buying an additional 191,763 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider's stock worth $413,298,000 after buying an additional 284,664 shares during the period. 89.30% of the stock is owned by institutional investors.

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.