Intercontinental Exchange (NYSE:ICE) Hits New 12-Month High – Here’s Why

Intercontinental Exchange, Inc. (NYSE:ICE)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $169.78 and last traded at $168.67, with a volume of 67772 shares changing hands. The stock had previously closed at $168.57.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $154.42 and a 200 day moving average price of $157.55. The stock has a market cap of $95.80 billion, a P/E ratio of 34.91, a P/E/G ratio of 3.21 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the transaction, the president now owns 164,041 shares of the company’s stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,358 shares of company stock worth $5,535,650. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its stake in shares of Intercontinental Exchange by 106.1% in the 3rd 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 during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. Hedge funds and other 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.