Kestra Advisory Services LLC Buys 34,146 Shares of Intercontinental Exchange Inc. $ICE

Kestra Advisory Services LLC lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 49.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 103,195 shares of the financial services provider’s stock after acquiring an additional 34,146 shares during the period. Kestra Advisory Services LLC’s holdings in Intercontinental Exchange were worth $15,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Claro Advisors Inc. boosted its stake in shares of Intercontinental Exchange by 32.8% in the third quarter. Claro Advisors Inc. now owns 2,413 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 596 shares during the period. Commonwealth Equity Services LLC increased its stake in Intercontinental Exchange by 22.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 63,103 shares of the financial services provider’s stock worth $9,594,000 after buying an additional 11,392 shares during the period. Chicago Partners Investment Group LLC increased its stake in Intercontinental Exchange by 113.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,998 shares of the financial services provider’s stock worth $1,464,000 after buying an additional 4,785 shares during the period. Verity Asset Management Inc. purchased a new stake in Intercontinental Exchange during the 3rd quarter worth $233,000. Finally, 3Chopt Investment Partners LLC acquired a new position in Intercontinental Exchange in the 3rd quarter worth $259,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE opened at $172.28 on Monday. The firm has a market cap of $96.28 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.52 and a beta of 0.84. The stock has a 50 day moving average of $158.67 and a 200-day moving average of $154.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The business 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 business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 EPS. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Intercontinental Exchange News Roundup

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel directly owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,737 shares of company stock valued at $8,138,975 over the last quarter. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ICE shares. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Jefferies Financial Group dropped their target price on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. TD Cowen lifted their target price on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. Raymond James Financial cut their price target on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 5th. Finally, Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, October 30th. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.25.

Intercontinental Exchange Profile

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.