Carlson Capital L.P. acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,900 shares of the financial services provider’s stock, valued at approximately $2,029,000. Intercontinental Exchange comprises about 0.6% of Carlson Capital L.P.’s investment portfolio, making the stock its 22nd largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC raised its stake in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after acquiring an additional 6,373 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Intercontinental Exchange Stock Down 2.3%
Intercontinental Exchange stock opened at $152.64 on Friday. The company has a market capitalization of $86.32 billion, a P/E ratio of 21.56, a PEG ratio of 1.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The stock has a 50-day simple moving average of $139.48 and a 200-day simple moving average of $153.69.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on ICE shares. Piper Sandler dropped their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday. UBS Group reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday. Finally, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.
Insider Buying and Selling
In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last 90 days. Company insiders own 0.84% of the company’s stock.
Key Stories Impacting Intercontinental Exchange
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: ICE reported second-quarter adjusted earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue reached approximately $2.7 billion, up 5% year over year. Growth in recurring data and mortgage technology helped offset weaker energy-related activity. ICE Q2 Earnings Beat on Data Growth and Mortgage Strength
- Positive Sentiment: The company returned $945 million to shareholders during the quarter, including $651 million in repurchases, and increased its authorized buyback capacity to $4 billion. ICE also raised its quarterly dividend 8% year over year to $0.52 per share. ICE Approves Third Quarter Dividend
- Positive Sentiment: The MarketAxess deal would expand ICE’s electronic fixed-income trading, market-data and distribution capabilities. Management is positioning the acquisition to benefit from the long-term shift from voice-based to electronic bond trading. The transaction is expected to close in the first half of 2027. Rise of Bond E-Trading Underpins ICE’s MarketAxess Deal
- Neutral Sentiment: MarketAxess shares surged roughly 30% after ICE offered a premium of about 33% to its unaffected price, highlighting the strategic value of the target but also making the transaction a significant capital commitment for ICE. NYSE Parent ICE to Purchase MarketAxess
- Negative Sentiment: Investors appear concerned that paying nearly $6 billion in cash could pressure near-term returns, increase execution and integration risk, and limit financial flexibility. The market’s initial reaction was cautious despite the earnings beat, with ICE shares underperforming broader equities.
About Intercontinental Exchange
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.
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