Intercontinental Exchange Inc. $ICE Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 29.5% during the 3rd quarter, Holdings Channel reports. The fund owned 547,975 shares of the financial services provider’s stock after selling 229,664 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Intercontinental Exchange were worth $83,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ICE. Maryland State Retirement & Pension System boosted its position in Intercontinental Exchange by 13.6% during the 3rd quarter. Maryland State Retirement & Pension System now owns 34,464 shares of the financial services provider’s stock worth $5,240,000 after acquiring an additional 4,131 shares during the period. Ritholtz Wealth Management grew its stake in shares of Intercontinental Exchange by 17.2% in the third quarter. Ritholtz Wealth Management now owns 8,200 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 1,206 shares in the last quarter. UNIVEST FINANCIAL Corp increased its holdings in shares of Intercontinental Exchange by 7.8% during the third quarter. UNIVEST FINANCIAL Corp now owns 49,100 shares of the financial services provider’s stock valued at $7,465,000 after purchasing an additional 3,546 shares during the period. Jacobi Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.2% in the third quarter. Jacobi Capital Management LLC now owns 13,318 shares of the financial services provider’s stock worth $2,025,000 after purchasing an additional 161 shares during the period. Finally, Inspire Trust Co. N.A. lifted its holdings in Intercontinental Exchange by 7.5% in the third quarter. Inspire Trust Co. N.A. now owns 43,000 shares of the financial services provider’s stock worth $6,537,000 after purchasing an additional 3,000 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 1.5%

Shares of Intercontinental Exchange stock opened at $177.80 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a market cap of $99.36 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The business has a fifty day simple moving average of $160.03 and a 200-day simple moving average of $154.71. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.38.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.05. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations 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 business posted $1.71 earnings per share. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. TD Cowen upped their price target on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, October 30th. Raymond James Financial decreased 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 report on Monday, October 5th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $189.25.

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 2,100 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $174.51, for a total value of $366,471.00. Following the transaction, the director owned 12,977 shares of the company’s stock, valued at $2,264,616.27. The trade was a 13.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 3,777 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the sale, the chief accounting officer owned 10,325 shares in the company, valued at $1,806,875. The trade was a 26.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,000 shares of company stock valued at $8,638,669 in the last quarter. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange News Roundup

Investors following ICE have been watching these news items:

• Positive Sentiment: ICE and OKX plan to launch OKXICE, a 24/7 venue for eligible U.S. customers to trade tokenized versions of more than 70 assets starting Nov. 23. The initiative could open a new trading channel and broaden ICE’s reach, though adoption and execution remain to be seen. Article: NYSE Affiliate to Launch 24/7 Tokenized Stock Trading This Month
• Positive Sentiment: ICE plans to introduce wind futures covering seven European countries, expanding its derivatives offerings and potentially creating additional trading activity. Article: ICE Plans to Launch Wind Futures
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

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.