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

Intercontinental Exchange, Inc. (NYSE:ICE)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $175.67 and last traded at $175.50, with a volume of 674783 shares changing hands. The stock had previously closed at $173.69.

Wall Street Analyst Weigh In

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

Intercontinental Exchange Trading Down 0.7 %

The company’s 50 day moving average price is $164.29 and its 200 day moving average price is $160.09. The firm has a market cap of $100.22 billion, a PE ratio of 36.49, a price-to-earnings-growth 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.

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 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%. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the sale, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock worth $10,998,990. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 366 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after purchasing an additional 4,787 shares in the last quarter. M&T Bank Corp lifted its position in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares during the period. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after buying an additional 61,110 shares during the period. 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.