Deutsche Bank Aktiengesellschaft Lowers Intercontinental Exchange (NYSE:ICE) Price Target to $160.00

Intercontinental Exchange (NYSE:ICE) had its target price decreased by Deutsche Bank Aktiengesellschaft from $169.00 to $160.00 in a report released on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on ICE. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays cut their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Price Performance

NYSE ICE opened at $154.49 on Friday. The stock has a market cap of $88.70 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.35 and a beta of 1.08. Intercontinental Exchange has a 12 month low of $107.40 and a 12 month high of $167.99. The company’s 50 day moving average is $161.86 and its two-hundred day moving average is $148.61. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange will post 6.13 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred 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 directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. CCLA Investment Management boosted its stake in shares of Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after purchasing an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Intercontinental Exchange during the second quarter valued at approximately $124,508,000. Janus Henderson Group PLC raised its stake in Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after buying an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $93,340,000. 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.