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

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $183.99 and last traded at $182.47, with a volume of 94720 shares changing hands. The stock had previously closed at $183.11.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Morgan Stanley upped 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. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective 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 target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America reduced their target price 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $189.62.

Intercontinental Exchange Price Performance

The firm has a market cap of $103.91 billion, a P/E ratio of 37.53, a PEG ratio of 1.97 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $177.83 and a two-hundred day moving average of $167.07.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results 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. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the business's 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 transaction, the senior vice president directly owned 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 quarter, insiders sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. RB Capital Management LLC grew its position in Intercontinental Exchange by 1.3% in the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock worth $841,000 after acquiring an additional 59 shares during the period. Chemistry Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider's stock worth $1,440,000 after purchasing an additional 60 shares during the period. Fielder Capital Group LLC boosted its position in shares of Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Intercontinental Exchange by 4.2% during the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after buying an additional 61 shares during the period. Finally, Berkeley Capital Partners LLC boosted its position in shares of Intercontinental Exchange by 1.1% during the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds 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.