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

Intercontinental Exchange, Inc. (NYSE:ICE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $176.49 and last traded at $175.58, with a volume of 2777113 shares. The stock had previously closed at $175.25.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. Barclays boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Up 0.5 %

The firm has a market capitalization of $101.44 billion, a P/E ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50 day moving average is $166.61 and its two-hundred day moving average is $160.48.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 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%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current 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 issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 approximately $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock valued at $10,998,990 in the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Intercontinental Exchange

Several hedge funds and other institutional investors have recently bought and sold shares of ICE. Great Valley Advisor Group Inc. acquired a new stake in Intercontinental Exchange during the third quarter worth approximately $228,000. Larson Financial Group LLC grew its stake in Intercontinental Exchange by 17.6% during the third quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider’s stock worth $205,000 after buying an additional 191 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Intercontinental Exchange in the 3rd quarter valued at about $530,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Intercontinental Exchange by 721.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 912 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 801 shares during the period. Finally, Cadence Bank bought a new position in Intercontinental Exchange in the third quarter valued at approximately $233,000. Institutional investors and hedge funds 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.