TOWER TRUST & INVESTMENT Co trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 71.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,729 shares of the financial services provider’s stock after selling 4,431 shares during the quarter. TOWER TRUST & INVESTMENT Co’s holdings in Intercontinental Exchange were worth $263,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Kintegral Advisory LLC raised its stake in shares of Intercontinental Exchange by 0.6% in the third quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock valued at $1,738,000 after acquiring an additional 64 shares during the last quarter. Gilpin Wealth Management LLC grew its position in Intercontinental Exchange by 6.3% during the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 66 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares in the last quarter. Chemistry Wealth Management LLC increased its holdings in Intercontinental Exchange by 0.9% during the 3rd quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. increased its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.
Trending Headlines about Intercontinental Exchange
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: Q3 earnings beat expectations: ICE reported adjusted earnings of $2.02 per share, above the $1.97 consensus estimate and up from $1.71 a year earlier. Revenue rose 14.7% year over year to $3.63 billion, supported by strong exchange trading and data performance. IntercontinentalExchange Tops Q3 Earnings and Revenue Estimates
- Positive Sentiment: Trading activity and recurring revenue improved: Exchange trading revenue reportedly jumped 28%, while growth in market data and other recurring businesses supported management’s outlook for higher recurring revenue. The results indicate that elevated market activity is benefiting ICE’s exchanges and information-services businesses. Intercontinental Q3 Earnings Beat on Exchanges and Data Growth
- Positive Sentiment: MarketAxess acquisition advanced: ICE received early clearance under the Hart-Scott-Rodino Act for its planned acquisition of MarketAxess, potentially accelerating the transaction and expanding ICE’s electronic fixed-income trading capabilities. ICE Reports Third Quarter Results and Early HSR Clearance
- Positive Sentiment: New perpetual-futures opportunity: ICE and Trade[XYZ] plan to bring Hyperliquid-linked perpetual markets onshore in the U.S. for regulated, around-the-clock trading. The initiative could create a new growth channel in digital-asset derivatives, although it remains subject to regulatory and execution risks. ICE to Bring TradeXYZ Perpetual Markets Onshore
- Positive Sentiment: Dividend increased: ICE approved a quarterly dividend of $0.52 per share, up 8% from the prior-year quarter, payable December 31, 2026. ICE Approves Fourth-Quarter Dividend
- Neutral Sentiment: Management pushed back on spinoff speculation involving the mortgage business, suggesting ICE will continue addressing challenges within the existing corporate structure. ICE Executives Address Spinoff Speculation
- Negative Sentiment: Questions surrounding mortgage-market weakness and objections to certain tokenized-stock initiatives remain potential overhangs, though they were outweighed by the earnings and strategic announcements. Objections to Tokenized Stock Venue
Insider Activity
In other news, insider Christopher Edmonds sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,179 shares of company stock worth $6,473,715. Company insiders own 0.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Argus cut their price objective on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Rothschild & Co Redburn increased their target price on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Barclays reiterated an “overweight” rating and set a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. Finally, TD Cowen increased their price objective on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the stock a “hold” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.31.
Get Our Latest Stock Analysis on ICE
Intercontinental Exchange Stock Up 4.7%
Shares of NYSE ICE opened at $163.30 on Friday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $176.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $91.67 billion, a P/E ratio of 23.06, a PEG ratio of 1.44 and a beta of 0.94. The stock’s fifty day moving average is $157.36 and its 200 day moving average is $154.59.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current fiscal year.
Intercontinental Exchange Company 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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