Intercontinental Exchange (NYSE:ICE) Earns Outperform Rating from Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange (NYSE:ICE) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $190.00 price target on the financial services provider’s stock.

ICE has been the subject of several other reports. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $192.20.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE stock opened at $160.71 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $160.26 and its two-hundred day moving average is $160.35. The company has a market capitalization of $91.03 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03. Intercontinental Exchange has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. Equities analysts forecast that Intercontinental Exchange will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 36.05%.

Insider Activity

In related news, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 348,418 shares of company stock valued at $54,196,631 in the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently bought and sold shares of the stock. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. increased its position in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares in the last quarter. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.