Guinness Asset Management LTD Purchases 53,495 Shares of Intercontinental Exchange Inc. $ICE

Guinness Asset Management LTD grew its position in Intercontinental Exchange Inc. (NYSE:ICE) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,545 shares of the financial services provider’s stock after acquiring an additional 53,495 shares during the quarter. Intercontinental Exchange accounts for about 0.9% of Guinness Asset Management LTD’s holdings, making the stock its 26th largest position. Guinness Asset Management LTD’s holdings in Intercontinental Exchange were worth $54,458,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Key Intercontinental Exchange News

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

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Friday, March 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, UBS Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $194.60.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,332 shares of company stock valued at $1,794,334 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.1%

ICE stock opened at $153.09 on Friday. The business has a fifty day moving average price of $158.33 and a 200 day moving average price of $159.97. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The stock has a market capitalization of $86.58 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm posted $1.72 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.