Rakuten Investment Management Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 9.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 101,031 shares of the financial services provider’s stock after purchasing an additional 8,482 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Intercontinental Exchange were worth $15,376,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ICE. AIA Group Ltd grew its position in Intercontinental Exchange by 425.9% during the third quarter. AIA Group Ltd now owns 123,465 shares of the financial services provider’s stock valued at $18,770,000 after buying an additional 99,990 shares during the period. Provenance Wealth Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 18,712.8% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 7,337 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 7,298 shares during the last quarter. Hughes Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 64.4% in the 3rd quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 76 shares during the last quarter. Lyell Wealth Management LP boosted its holdings in Intercontinental Exchange by 17.4% during the 3rd quarter. Lyell Wealth Management LP now owns 19,758 shares of the financial services provider’s stock valued at $3,004,000 after acquiring an additional 2,934 shares during the period. Finally, First Nebraska Trust Co bought a new position in shares of Intercontinental Exchange in the third quarter worth about $228,000. 89.30% of the stock is owned by institutional investors.
Intercontinental Exchange Stock Performance
Shares of NYSE ICE opened at $174.91 on Thursday. 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 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $97.75 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.50 and a beta of 0.84. The business’s 50-day simple moving average is $158.20 and its 200-day simple moving average is $154.63.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intercontinental Exchange news, Director Martha Tirinnanzi sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the sale, the director directly owned 3,747 shares in the company, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the sale, the senior vice president owned 15,863 shares in the company, valued at $2,538,080. The trade was a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,309 shares of company stock worth $5,787,841 over the last quarter. Insiders own 0.84% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ICE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Raymond James Financial reduced their price objective on 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.25.
Get Our Latest Stock Analysis on ICE
Trending Headlines about Intercontinental Exchange
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: Shares reached a fresh all-time high. The record suggests strong investor momentum. Bank of America Securities also maintained its Buy rating, reinforcing a favorable analyst view. ICE reaches a fresh all-time high Bank of America maintains Buy rating
- Positive Sentiment: Gateway Mortgage chose ICE’s servicing platform. Its selection of MSP and integrated servicing solutions adds a customer and may support ICE’s mortgage-technology business and recurring revenue. Gateway Mortgage selects ICE servicing solutions
- Positive Sentiment: ICE is pursuing new derivatives-market opportunities. Its planned exchange using Hyperliquid infrastructure could broaden its reach and create future trading-fee potential, though the opportunity faces regulatory and legal uncertainty. ICE plans a derivatives exchange using Hyperliquid
- Neutral Sentiment: ICE released October trading statistics. The monthly report provides investors with operating data, but the supplied article details no figures to indicate whether activity improved. CFO Warren Gardiner is also scheduled to speak at a November 17 investor conference, offering a potential update but no new guidance yet. ICE reports October statistics ICE CFO to present at investor conference
- Negative Sentiment: A lawsuit could complicate the new futures opportunity. Cboe and Citadel Securities are challenging the CFTC’s approval of stock perpetual futures. If the challenge succeeds, it could delay or constrain the U.S. market ICE hopes to enter. Cboe and Citadel sue over approval of stock perpetual futures
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.
Featured Stories
- Five stocks we like better than Intercontinental Exchange
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE – Free Report).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.
