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

Shares of Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) reached a new 52-week high during trading 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

Several research firms have commented on ICE. Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Intercontinental Exchange Trading Down 0.8%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50-day simple moving average is $172.32 and its 200-day simple moving average is $164.58. The firm has a market capitalization of $103.01 billion, a PE ratio of 37.18, a P/E/G ratio of 1.94 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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 business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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 given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,954 shares of company stock worth $40,796,663. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently bought and sold shares of the company. Governors Lane LP boosted its stake in Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after purchasing an additional 59,500 shares in the last quarter. National Pension Service boosted its stake in Intercontinental Exchange by 19.1% in the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after purchasing an additional 198,311 shares in the last quarter. Hahn Capital Management LLC boosted its stake 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 worth $10,600,000 after purchasing an additional 29,233 shares in the last quarter. Tema Etfs LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $1,107,000. Finally, Otter Creek Advisors LLC boosted its stake in Intercontinental Exchange by 102.2% in the 4th 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 in the last quarter. 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.