Intercontinental Exchange (NYSE:ICE) Reaches New 52-Week High – Should You Buy?

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) hit a new 52-week high 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on ICE. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $164.29 and its 200-day moving average is $160.09. The firm has a market capitalization of $100.22 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares of the company’s stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after buying an additional 3,678,384 shares in the last quarter. Janus Henderson Group PLC boosted its position in Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after buying an additional 3,460,096 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $406,728,000. 89.30% of the stock is currently owned by hedge funds and other 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.