Intercontinental Exchange (NYSE:ICE) Hits New 1-Year High - Should You Buy?

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $175.67 and last traded at $175.50, with a volume of 674783 shares changing hands. The stock had previously closed at $173.69.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Barclays lifted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.80.

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Intercontinental Exchange Stock Performance

The firm has a market capitalization of $100.97 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The business's 50 day simple moving average is $164.29 and its two-hundred day simple moving average is $160.07. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts anticipate 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 Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange's payout ratio is 40.17%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares of the company's stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock worth $10,998,990 in the last ninety days. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently modified their holdings of ICE. REAP Financial Group LLC lifted its stake in shares of Intercontinental Exchange by 116.7% during 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. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at about $31,000. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $29,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors.

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.