Morgan Stanley Boosts Intercontinental Exchange (NYSE:ICE) Price Target to $192.00

Intercontinental Exchange (NYSE:ICE) had its price objective increased by Morgan Stanley from $181.00 to $192.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $176.44 on Monday. Intercontinental Exchange has a 12-month low of $131.79 and a 12-month high of $177.45. The firm has a market capitalization of $101.37 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.10 and a beta of 1.12. The stock’s 50 day moving average price is $166.69 and its two-hundred day moving average price is $160.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now owns 17,972 shares of the company’s stock, valued at $3,001,144.28. The trade was a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,948 shares of company stock worth $8,839,042 in the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $25,000. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC boosted its stake in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Finally, Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. 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.