Intercontinental Exchange (NYSE:ICE) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Intercontinental Exchange (NYSE:ICE) in a report released on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $200.00 price objective on the financial services provider’s stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an overweight rating in a research note on Monday, September 16th. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday. They set a buy rating and a $182.00 price target for the company. Barclays boosted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. StockNews.com cut Intercontinental Exchange from a hold rating to a sell rating in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $162.47.

Intercontinental Exchange Stock Up 0.3 %

Shares of Intercontinental Exchange stock opened at $158.64 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $163.71. The business’s fifty day moving average price is $156.89 and its two-hundred day moving average price is $143.46. The company has a market capitalization of $90.99 billion, a P/E ratio of 36.39, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. As a group, research analysts forecast that Intercontinental Exchange will post 6.04 EPS for the current year.

Insider Activity

In other news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The disclosure for this sale can be found here. Insiders have sold 66,268 shares of company stock worth $9,508,809 over the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the last quarter. Point72 Europe London LLP raised its stake in Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after acquiring an additional 6,500 shares in the last quarter. Perpetual Ltd lifted its holdings in Intercontinental Exchange by 0.4% during the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after purchasing an additional 20,802 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

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.