M&G PLC Sells 2,991 Shares of Intercontinental Exchange Inc. $ICE

M&G PLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 230,832 shares of the financial services provider’s stock after selling 2,991 shares during the quarter. M&G PLC’s holdings in Intercontinental Exchange were worth $35,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. Kintegral Advisory LLC grew its position in Intercontinental Exchange by 0.6% in the 3rd 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 lifted its position in shares of Intercontinental Exchange by 6.3% during the third quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 66 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 68 shares during the last quarter. Chemistry Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 0.9% during the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 68 shares during the last quarter. Finally, Capstone Financial Advisors Inc. boosted its stake in shares of Intercontinental Exchange by 1.4% during the second 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 during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 1.0%

NYSE:ICE opened at $174.08 on Tuesday. The firm has a fifty day simple moving average of $158.90 and a 200-day simple moving average of $154.65. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.94. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $97.28 billion, a P/E ratio of 23.75, a PEG ratio of 1.54 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.71 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen increased their target price on Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, October 30th. UBS Group reiterated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Bank of America increased their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Intercontinental Exchange News Summary

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

• Positive Sentiment: ICE plans to launch European wind futures, extending its energy-derivatives offerings. The contracts could create new trading and clearing opportunities as renewable power markets grow, though no expected revenue contribution was disclosed. Article: ICE to launch European wind futures Article: ICE Joins Wind Derivatives Push
• Neutral Sentiment: The NYSE intends to settle tokenized stocks on Avalanche for its planned 24/7 trading platform. The move could strengthen ICE’s position in emerging market infrastructure, but the platform’s execution and commercial impact remain uncertain. Article: NYSE to Settle Tokenized Stocks on Avalanche
• Neutral Sentiment: Analysts remain moderately optimistic despite ICE’s relative underperformance over the past year; the report provides no specific new forecast or rating change. Article: Intercontinental Exchange Stock: Analyst Estimates & Ratings
• Neutral Sentiment: ICE’s mortgage report says 2.4 million mortgage holders are equity millionaires and home equity reached a record in Q3. This highlights ICE’s mortgage-data business, but the article does not indicate a direct earnings effect. Article: ICE Mortgage Monitor
• Neutral Sentiment: ICE market commentary on canola describes commodity-price movements, but offers no clear company-specific catalyst for the stock. Article: ICE Closing Review: Canola Defies Pressure
• Negative Sentiment: ICE’s president sold about $1.28 million in shares, and its CAO sold about $661,000. Insider sales may weigh on sentiment, though the reports give no reason for the transactions and they do not necessarily indicate a change in business outlook. Article: President Sells Stock Article: CAO Sells Stock

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth King sold 1,919 shares of Intercontinental Exchange stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total value of $335,825.00. Following the completion of the transaction, the insider owned 21,835 shares of the company’s stock, valued at approximately $3,821,125. This represents a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,737 shares of company stock worth $8,138,975. 0.84% of the stock is currently owned by company insiders.

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.