Intercontinental Exchange (NYSE:ICE) Sets New 12-Month High – What’s Next?

Intercontinental Exchange Inc. (NYSE:ICE) shares reached a new 52-week high on Monday . The stock traded as high as $181.63 and last traded at $180.50, with a volume of 454310 shares changing hands. The stock had previously closed at $178.44.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.46.

Intercontinental Exchange Trading Up 0.7%

The firm’s 50 day moving average is $171.38 and its 200 day moving average is $164.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $103.81 billion, a PE ratio of 37.47, a PEG ratio of 1.95 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president now directly owns 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock valued at $40,796,663 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Governors Lane LP boosted its stake in shares of Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after purchasing an additional 59,500 shares during the period. National Pension Service increased its position in shares of Intercontinental Exchange by 19.1% in the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after acquiring an additional 198,311 shares during the period. Hahn Capital Management LLC raised its stake in shares of Intercontinental Exchange by 69.8% during the fourth quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock valued at $10,600,000 after acquiring an additional 29,233 shares during the last quarter. Tema Etfs LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $1,107,000. Finally, Otter Creek Advisors LLC grew its stake in shares of Intercontinental Exchange by 102.2% in the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider’s stock worth $4,952,000 after purchasing an additional 16,797 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.