Intercontinental Exchange (NYSE:ICE) Reaches New 52-Week High – Here’s Why

Intercontinental Exchange, Inc. (NYSE:ICE)’s stock price hit 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target 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. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays lifted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

The stock 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 quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day simple moving average of $166.61 and a 200-day simple moving average of $160.48.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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%. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced 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 1.09%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were 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 owns 21,992 shares in the company, valued at $3,661,008.24. This represents a 32.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,563 shares of company stock valued at $10,998,990. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently bought and sold shares of ICE. Chancellor Financial Group WB LP purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $228,000. 111 Capital purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $1,610,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,949,000. Campbell Deegan Wealth Management LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $539,000. Finally, TFR Capital LLC. purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $1,452,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.