Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High - Here's What Happened

Key Points

• Intercontinental Exchange (ICE) shares hit a new 52-week high at $185.67 with a trading volume of 298,665 shares.
• Analysts have given ICE a consensus rating of "Moderate Buy" with a price target increase from various firms, including UBS raising it from $195 to $210.
• The company reported earnings of $1.72 EPS for the quarter, surpassing estimates, and announced a quarterly dividend of $0.48 per share.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $185.56 and last traded at $185.67, with a volume of 298665 shares traded. The stock had previously closed at $184.71.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ICE shares. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Trading Down 0.8%

The stock has a market cap of $105.19 billion, a PE ratio of 37.99, a PEG ratio of 2.04 and a beta of 1.11. The business has a 50-day moving average of $180.54 and a 200 day moving average of $170.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer directly owned 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock worth $40,671,107 over the last ninety days. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares during the period. Summit Financial LLC lifted its holdings in shares of Intercontinental Exchange by 14.7% in the fourth quarter. Summit Financial LLC now owns 5,828 shares of the financial services provider's stock valued at $868,000 after buying an additional 747 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 10,254 shares of the financial services provider's stock valued at $1,528,000 after buying an additional 82 shares during the period. Bryce Point Capital LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $552,000. Finally, Cinctive Capital Management LP lifted its holdings in shares of Intercontinental Exchange by 47.8% in the fourth quarter. Cinctive Capital Management LP now owns 13,078 shares of the financial services provider's stock valued at $1,949,000 after buying an additional 4,232 shares during the period. Institutional investors and hedge funds 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.