Intercontinental Exchange (NYSE:ICE) Hits New 52-Week High at $129.38

Intercontinental Exchange, Inc. (NYSE:ICE) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $129.38 and last traded at $127.57, with a volume of 2260859 shares trading hands. The stock had previously closed at $128.10.

A number of brokerages have recently weighed in on ICE. UBS Group boosted their price target on Intercontinental Exchange from $143.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. Morgan Stanley upped their target price on Intercontinental Exchange from $124.00 to $131.00 and gave the company an “equal weight” rating in a research report on Friday, October 8th. Raymond James boosted their price target on Intercontinental Exchange from $136.00 to $140.00 and gave the company a “strong-buy” rating in a report on Friday, July 30th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $126.00 price target for the company. in a report on Friday, September 17th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $131.30.

The stock’s fifty day moving average is $119.09 and its 200 day moving average is $117.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $72.28 billion, a P/E ratio of 25.51 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 29th. The financial services provider reported $1.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.16. Intercontinental Exchange had a net margin of 32.25% and a return on equity of 13.16%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. On average, analysts expect that Intercontinental Exchange, Inc. will post 4.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 15th. This represents a $1.32 annualized dividend and a yield of 1.03%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 29.27%.

In related news, insider Lynn C. Martin sold 2,500 shares of the stock in a transaction dated Thursday, October 7th. The shares were sold at an average price of $125.00, for a total transaction of $312,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 109,037 shares of the stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $117.03, for a total transaction of $12,760,600.11. The disclosure for this sale can be found here. Insiders sold a total of 121,182 shares of company stock worth $14,239,990 over the last ninety days. Insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 12.8% in the second quarter. Rafferty Asset Management LLC now owns 315,245 shares of the financial services provider’s stock valued at $37,420,000 after purchasing an additional 35,682 shares in the last quarter. Manning & Napier Group LLC boosted its stake in Intercontinental Exchange by 0.6% during the second quarter. Manning & Napier Group LLC now owns 1,250,009 shares of the financial services provider’s stock worth $148,375,000 after buying an additional 7,318 shares during the period. Palisade Capital Management LLC NJ boosted its stake in Intercontinental Exchange by 0.6% during the second quarter. Palisade Capital Management LLC NJ now owns 201,125 shares of the financial services provider’s stock worth $23,874,000 after buying an additional 1,228 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Intercontinental Exchange by 13.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,898 shares of the financial services provider’s stock worth $1,999,000 after buying an additional 2,086 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Intercontinental Exchange by 95.0% during the first quarter. Principal Financial Group Inc. now owns 1,408,362 shares of the financial services provider’s stock worth $157,287,000 after buying an additional 686,287 shares during the period. Institutional investors own 88.12% of the company’s stock.

About Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.

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