Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High - Time to Buy?

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $180.64 and last traded at $179.95, with a volume of 5439058 shares traded. The stock had previously closed at $178.53.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group boosted their price objective 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. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus price target of $188.46.

Intercontinental Exchange Stock Down 0.0%

The company has a fifty day simple moving average of $168.33 and a two-hundred day simple moving average of $163.12. The firm has a market capitalization of $102.85 billion, a PE ratio of 37.51, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

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

Intercontinental Exchange Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 552 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total value of $96,335.04. Following the transaction, the insider now directly owns 15,658 shares of the company's stock, valued at approximately $2,732,634.16. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James W. Namkung sold 612 shares of the business'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 transaction, the chief accounting officer now owns 13,220 shares of the company's stock, valued at $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,191 shares of company stock worth $694,978 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several institutional investors have recently bought and sold shares of ICE. Sierra Ocean LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. REAP Financial Group LLC lifted its stake in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares in the last quarter. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

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.