Intercontinental Exchange (NYSE:ICE) PT Raised to $151.00 at JPMorgan Chase & Co.

Intercontinental Exchange (NYSE:ICE) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $147.00 to $151.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.71% from the stock’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Barclays dropped their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Raymond James boosted their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Finally, Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange Stock Performance

ICE stock traded up $3.96 during midday trading on Friday, hitting $130.50. 3,991,238 shares of the stock traded hands, compared to its average volume of 2,404,087. The firm has a market cap of $74.73 billion, a P/E ratio of 29.93, a PEG ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.00. The stock’s fifty day simple moving average is $135.01 and its 200-day simple moving average is $125.81. Intercontinental Exchange has a 1-year low of $103.81 and a 1-year high of $140.43.

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

Insider Activity

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,832 shares of company stock worth $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares in the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $839,259,000. Capital World Investors increased its holdings in shares of Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Intercontinental Exchange by 303.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. Finally, Parnassus Investments LLC increased its holdings in shares of Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after purchasing an additional 1,621,737 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.