Intercontinental Exchange (NYSE:ICE) Sets New 12-Month High - Here's Why

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $182.61 and last traded at $181.57, with a volume of 655780 shares. The stock had previously closed at $180.80.

Analysts Set New Price Targets

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

Intercontinental Exchange Trading Up 0.3%

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 firm has a market cap of $103.98 billion, a P/E ratio of 37.51, a P/E/G ratio of 1.95 and a beta of 1.12. The firm has a 50 day simple moving average of $174.49 and a 200 day simple moving average of $165.41.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 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 analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.48 earnings per share. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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 paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 397 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the completion of the sale, the director now owns 4,526 shares of the company's stock, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Governors Lane LP grew its holdings 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 acquiring an additional 59,500 shares during the last quarter. National Pension Service lifted its position in shares of 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 during the period. Hahn Capital Management LLC increased its stake in shares of 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 acquiring an additional 29,233 shares in the last quarter. Tema Etfs LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $1,107,000. Finally, Otter Creek Advisors LLC boosted its stake in 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 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.

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