Motley Fool Asset Management LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,044 shares of the financial services provider’s stock after selling 3,380 shares during the period. Motley Fool Asset Management LLC’s holdings in Intercontinental Exchange were worth $5,936,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. James T. Borello RIA raised its position in shares of Intercontinental Exchange by 143.0% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after buying an additional 123 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $26,000. Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $31,000. William Mack & Associates Inc. bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $40,000. Finally, Cornerstone Planning Group LLC grew its position in Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on ICE. TD Cowen increased their target price on Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a research note on Monday, October 12th. Piper Sandler restated an “overweight” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial cut their price objective on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a report on Monday, October 5th. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $186.31.
Get Our Latest Analysis on ICE
Trending Headlines about Intercontinental Exchange
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: Record TTF derivatives activity: Open interest in ICE’s TTF natural-gas options exceeded 3 million contracts on October 23, up 33% year over year. Record combined open interest in TTF futures and options indicates strong customer demand for hedging and could support energy-trading revenue. ICE TTF Options Reach Record Open Interest as Customers Hedge Natural Gas Price Risk
- Positive Sentiment: Earnings catalyst approaching: Investors are focused on ICE’s upcoming third-quarter report, with analysts watching revenue, earnings and key operating metrics for evidence that trading activity and recurring data businesses remain healthy. Intercontinental Exchange reports earnings tomorrow: what to expect
- Neutral Sentiment: Mortgage-market indicators broadly seasonal: September delinquencies reportedly tracked seasonal norms, although the foreclosure pipeline is shifting toward more recent loan vintages. The update offers useful credit-market context but has no immediate clear effect on ICE’s results. ICE First Look: September Delinquencies Track Seasonal Norms
- Neutral Sentiment: Canola trading subdued: ICE canola futures were trading around unchanged, suggesting limited near-term direction from agricultural commodities. ICE Canola Trading on Either Side of Steady
- Negative Sentiment: Bearish options activity: Traders purchased 7,374 ICE put options, more than double the recent average, signaling increased demand for downside protection or speculative bearish positioning.
- Negative Sentiment: Fund selling pressure: Midday trading commentary cited selling by funds, creating near-term pressure on the shares. ICE Midday: Pressure From Fund Selling
- Negative Sentiment: Tokenized-stock resistance: An OKX-ICE tokenized-stock venue reportedly faces objections from 33 issuers, raising execution, regulatory and adoption concerns for the initiative. OKX-ICE Tokenized Stock Venue Faces Issuer Objections
Intercontinental Exchange Trading Up 0.1%
ICE stock opened at $155.53 on Thursday. The company has a market capitalization of $87.31 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05. The company’s 50 day moving average price is $157.23 and its two-hundred day moving average price is $154.61. 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 (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current fiscal year.
Insider Activity at Intercontinental Exchange
In related news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the sale, the general counsel directly owned 43,065 shares of the company’s stock, valued at $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,179 shares of company stock worth $6,473,715 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.
ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.
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