Compass Capital Management Inc. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.4% during the third quarter, Holdings Channel reports. The fund owned 337,336 shares of the financial services provider’s stock after selling 15,589 shares during the quarter. Intercontinental Exchange makes up approximately 3.2% of Compass Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Compass Capital Management Inc.’s holdings in Intercontinental Exchange were worth $51,285,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC increased its stake in Intercontinental Exchange by 21.0% in the third quarter. William Blair Investment Management LLC now owns 7,013 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 1,215 shares during the last quarter. Money Concepts Capital Corp acquired a new stake in Intercontinental Exchange in the 3rd quarter worth about $232,000. Allworth Financial LP boosted its stake in Intercontinental Exchange by 8.9% in the 3rd quarter. Allworth Financial LP now owns 9,331 shares of the financial services provider’s stock worth $1,419,000 after buying an additional 766 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Intercontinental Exchange by 13.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 34,464 shares of the financial services provider’s stock valued at $5,240,000 after buying an additional 4,131 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Intercontinental Exchange by 17.2% in the 3rd quarter. Ritholtz Wealth Management now owns 8,200 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 1,206 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ICE has been the subject of a number of research analyst reports. Raymond James Financial dropped their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research note on Monday, October 5th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Argus lowered their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Bank of America increased their price target on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $189.25.
View Our Latest Research Report on ICE
Trending Headlines about Intercontinental Exchange
Investors following ICE have been watching these headlines:
- Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
- Positive Sentiment: Analyst sentiment is favorable: ICE has a consensus “Moderate Buy” rating and an average price target of $189.25, above the roughly $178 share price cited in the coverage. Article: Intercontinental Exchange stock has consensus price target of $189.25
- Neutral Sentiment: A Seeking Alpha analysis remained bullish after ICE’s recent rally, supporting the longer-term outlook but noting a substantial run-up that could temper near-term upside. Article: Intercontinental Exchange: Still a Buy After the 18% Rally
Intercontinental Exchange Price Performance
ICE opened at $178.43 on Friday. The company has a 50-day moving average of $160.31 and a 200-day moving average of $154.73. The company has a market capitalization of $99.72 billion, a P/E ratio of 24.34, a PEG ratio of 1.57 and a beta of 0.84. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the company posted $1.71 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.
Insider Transactions at Intercontinental Exchange
In other Intercontinental Exchange news, General Counsel Andrew Surdykowski sold 4,575 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $175.05, for a total transaction of $800,853.75. Following the sale, the general counsel owned 40,554 shares in the company, valued at $7,098,977.70. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO James Namkung sold 3,777 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total value of $660,975.00. Following the transaction, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $1,806,875. This represents a 26.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,272 shares of company stock valued at $9,403,571 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.
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