Intercontinental Exchange (NYSE:ICE) Trading 2.2% Higher

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Intercontinental Exchange Inc (NYSE:ICE) shares traded up 2.2% during mid-day trading on Wednesday . The company traded as high as $74.15 and last traded at $75.27, 135,338 shares were traded during trading. A decline of 98% from the average session volume of 5,944,318 shares. The stock had previously closed at $73.66.

A number of equities analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Intercontinental Exchange in a research report on Monday, December 16th. They set an “outperform” rating for the company. Goldman Sachs Group raised shares of Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating and set a $90.00 price target for the company in a research report on Tuesday. Citigroup raised their price objective on shares of Intercontinental Exchange from $101.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $102.00 price objective on shares of Intercontinental Exchange in a research note on Friday, February 7th. Finally, Wells Fargo & Co raised shares of Intercontinental Exchange from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $105.00 in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $100.64.

The business’s 50 day moving average is $88.49 and its 200-day moving average is $92.33. The stock has a market cap of $40.77 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.80 and a beta of 0.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Intercontinental Exchange had a net margin of 29.52% and a return on equity of 12.77%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc will post 4.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. Intercontinental Exchange’s dividend payout ratio is currently 30.93%.

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 175,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $87.22, for a total value of $15,263,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 38,305 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $92.55, for a total value of $3,545,127.75. Following the completion of the transaction, the chief financial officer now owns 183,595 shares in the company, valued at approximately $16,991,717.25. The disclosure for this sale can be found here. Insiders sold a total of 349,409 shares of company stock worth $31,483,557 in the last three months. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ICE. Norges Bank purchased a new position in Intercontinental Exchange in the 4th quarter valued at $495,940,000. WCM Investment Management LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at $109,498,000. Tesco Pension Investment Ltd purchased a new position in Intercontinental Exchange in the 4th quarter valued at $84,901,000. Renaissance Technologies LLC lifted its holdings in Intercontinental Exchange by 3,386.1% in the 4th quarter. Renaissance Technologies LLC now owns 916,490 shares of the financial services provider’s stock valued at $84,821,000 after purchasing an additional 890,200 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in Intercontinental Exchange by 12.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,534,983 shares of the financial services provider’s stock valued at $512,263,000 after purchasing an additional 632,387 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.

Intercontinental Exchange Company Profile (NYSE:ICE)

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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