Intercontinental Exchange (NYSE:ICE) Sets New 1-Year High – What’s Next?

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $169.89 and last traded at $169.44, with a volume of 1958475 shares traded. The stock had previously closed at $167.87.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Up 0.4 %

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $155.42 and a 200 day simple moving average of $158.23. The firm has a market capitalization of $96.81 billion, a PE ratio of 35.25, a PEG ratio of 2.10 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.14%. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,368 shares of company stock valued at $9,908,492. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently bought and sold shares of ICE. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at about $29,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $31,000. Finally, Redwood Park Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $33,000. Hedge funds and other institutional investors 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.