Intercontinental Exchange (NYSE:ICE) Reaches New 1-Year High – What’s Next?

Intercontinental Exchange, Inc. (NYSE:ICE)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $167.75 and last traded at $167.75, with a volume of 658039 shares trading hands. The stock had previously closed at $166.72.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday. Finally, Barclays lowered their target price on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange Trading Down 0.5 %

The stock has a market capitalization of $89.01 billion, a PE ratio of 38.51, a PEG ratio of 2.51 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average is $162.09 and its two-hundred day moving average is $148.03.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is 44.55%.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its position in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange during the third quarter valued at $29,000. 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.