Intercontinental Exchange (NYSE:ICE) Hits New 12-Month High - Here's What Happened

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report)'s share price hit 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. The stock had previously closed at $178.44.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays raised their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley raised their price target 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Intercontinental Exchange Stock Performance

The business's fifty day moving average price is $170.32 and its 200-day moving average price is $164.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $103.26 billion, a PE ratio of 37.69, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, 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 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 $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares in the company, valued at $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock valued at $40,796,663 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in 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 lifted its holdings in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock valued at $184,644,000 after buying an additional 198,311 shares in the last quarter. Hahn Capital Management LLC boosted its position in Intercontinental Exchange by 69.8% in the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock valued at $10,600,000 after buying an additional 29,233 shares during the period. Tema Etfs LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $1,107,000. Finally, Otter Creek Advisors LLC increased its position in shares of Intercontinental Exchange by 102.2% during the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider's stock worth $4,952,000 after acquiring an additional 16,797 shares during the period. 89.30% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.