Trade Report: The IntercontinentalExchange Group Inc. (ICE) Price Target Increased to $310.00 by Analysts at Jefferies Group

The IntercontinentalExchange Group Inc. (ICE) Price Target Increased to $310.00 by Analysts at Jefferies Group

IntercontinentalExchange Group Inc. (NYSE:ICE) had its price target increased by Jefferies Group from $295.00 to $310.00 in a report published on Tuesday. Jefferies Group currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of IntercontinentalExchange Group from a hold rating to a sell rating in a report on Friday, October 7th. Deutsche Bank AG upped their price objective on shares of IntercontinentalExchange Group from $310.00 to $311.00 and gave the stock a buy rating in a report on Friday, September 9th. RBC Capital Markets restated a sector perform rating and issued a $282.00 price objective (up previously from $255.00) on shares of IntercontinentalExchange Group in a report on Thursday, August 4th. Barclays PLC upped their price objective on shares of IntercontinentalExchange Group from $295.00 to $307.00 and gave the stock an overweight rating in a report on Thursday, August 4th. Finally, Royal Bank Of Canada upped their price objective on shares of IntercontinentalExchange Group from $255.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. IntercontinentalExchange Group presently has a consensus rating of Buy and a consensus target price of $297.33.

Shares of IntercontinentalExchange Group (NYSE:ICE) traded up 0.48% during midday trading on Tuesday, hitting $266.62. 156,780 shares of the stock traded hands. IntercontinentalExchange Group has a 52 week low of $227.22 and a 52 week high of $287.02. The company’s 50-day moving average is $276.98 and its 200 day moving average is $262.04. The firm has a market capitalization of $30.67 billion, a PE ratio of 22.00 and a beta of 0.92.

IntercontinentalExchange Group (NYSE:ICE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.05. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $2.90 earnings per share. IntercontinentalExchange Group’s quarterly revenue was up 41.7% on a year-over-year basis. Analysts anticipate that IntercontinentalExchange Group will post $13.80 earnings per share for the current year.

In related news, CEO Jeffrey C. Sprecher sold 25,275 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $270.49, for a total transaction of $6,836,634.75. Following the transaction, the chief executive officer now owns 313,445 shares in the company, valued at $84,783,738.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles A. Vice sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $278.79, for a total transaction of $557,580.00. Following the transaction, the insider now owns 61,983 shares in the company, valued at approximately $17,280,240.57. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ICE. NN Investment Partners Holdings N.V. acquired a new position in IntercontinentalExchange Group during the first quarter valued at $3,175,000. TimesSquare Capital Management LLC increased its position in IntercontinentalExchange Group by 103.0% in the first quarter. TimesSquare Capital Management LLC now owns 29,310 shares of the company’s stock valued at $6,892,000 after buying an additional 14,875 shares during the last quarter. ING Groep NV increased its position in IntercontinentalExchange Group by 20.0% in the first quarter. ING Groep NV now owns 40,641 shares of the company’s stock valued at $9,556,000 after buying an additional 6,780 shares during the last quarter. Aviva PLC increased its position in IntercontinentalExchange Group by 8.2% in the first quarter. Aviva PLC now owns 66,398 shares of the company’s stock valued at $15,613,000 after buying an additional 5,043 shares during the last quarter. Finally, AMF Pensionsforsakring AB increased its position in IntercontinentalExchange Group by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 199,592 shares of the company’s stock valued at $46,932,000 after buying an additional 13,050 shares during the last quarter. Institutional investors own 90.04% of the company’s stock.

About IntercontinentalExchange Group

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