Intercontinental Exchange (NYSE:ICE) Sets New 12-Month High at $153.34

Intercontinental Exchange, Inc. (NYSE:ICE) reached a new 52-week high during trading on Thursday . The company traded as high as $153.34 and last traded at $152.64, with a volume of 1509356 shares changing hands. The stock had previously closed at $151.12.

Analyst Ratings Changes

Several analysts recently weighed in on ICE shares. Citigroup lifted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Argus reissued a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Bank of America lowered their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.79.

Intercontinental Exchange Trading Up 0.2 %

The firm has a market capitalization of $88.38 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. The company has a 50-day moving average price of $142.88 and a 200-day moving average price of $137.27.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, September 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The disclosure for this sale can be found here. Insiders have sold 64,992 shares of company stock worth $9,197,801 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

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.