Rosenblatt Securities Reaffirms “Buy” Rating for Intercontinental Exchange (NYSE:ICE)

Rosenblatt Securities restated their buy rating on shares of Intercontinental Exchange (NYSE:ICE) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $164.00 price target on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Citigroup increased their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 4th. Barclays lifted their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Raymond James upped their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a strong-buy rating in a research report on Friday, January 5th. Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $147.92.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $0.78 during trading on Friday, reaching $131.28. The company’s stock had a trading volume of 1,128,172 shares, compared to its average volume of 2,409,724. Intercontinental Exchange has a one year low of $103.81 and a one year high of $140.43. The stock has a 50-day moving average price of $135.01 and a two-hundred day moving average price of $126.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $75.30 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

A number of large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after buying an additional 8,320 shares during the last quarter. LGT Group Foundation increased its holdings in shares of Intercontinental Exchange by 36.0% during the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after acquiring an additional 94,039 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after acquiring an additional 105,042 shares during the period. Finally, First County Bank CT raised its stake in Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds 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.