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

Eurizon Capital SGR S.p.A. decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 29.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 547,975 shares of the financial services provider’s stock after selling 229,664 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.10% of Intercontinental Exchange worth $83,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. BlackRock Inc. purchased a new position in Intercontinental Exchange in the second quarter valued at about $6,245,085,000. HF Advisory Group LLC increased its holdings in Intercontinental Exchange by 147.5% during the 3rd quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 9,169 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in Intercontinental Exchange during the 1st quarter worth approximately $11,498,000. NBT Bank N.A. purchased a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich raised its position in shares of Intercontinental Exchange by 35.5% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock valued at $40,817,000 after purchasing an additional 86,897 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.5%

NYSE:ICE opened at $177.80 on Friday. The firm has a market capitalization of $99.36 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The stock has a 50 day moving average of $160.03 and a 200-day moving average of $154.71. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.38. 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 (NYSE:ICE) last announced its quarterly earnings results 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 business had revenue of $3.63 billion for 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 business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 EPS. Analysts predict that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew Surdykowski sold 4,575 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $175.05, for a total value of $800,853.75. Following the sale, the general counsel directly owned 40,554 shares of the company’s stock, valued at $7,098,977.70. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,000 shares of company stock worth $8,638,669 over the last 90 days. Insiders own 0.84% of the company’s stock.

More Intercontinental Exchange News

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
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Deutsche Bank reiterated a “buy” rating and set a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Argus lowered their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, Rothschild & Co Redburn increased their target price on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Intercontinental Exchange Company 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.