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

M&G PLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $6,245,085,000. State Street Corp raised its holdings in Intercontinental Exchange by 1.6% in the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 16.1% during the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after purchasing an additional 1,634,385 shares in the last quarter. Amundi increased its position in shares of Intercontinental Exchange by 49.6% during the first quarter. Amundi now owns 4,997,079 shares of the financial services provider’s stock valued at $785,941,000 after buying an additional 1,656,220 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Intercontinental Exchange in the second quarter worth about $714,869,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president directly owned 164,264 shares of the company’s stock, valued at $26,297,023.76. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. This trade represents 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 in the last quarter. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Barclays upped their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Bank of America raised their target price on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Rothschild & Co Redburn increased their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Finally, Raymond James Financial dropped their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.25.

Intercontinental Exchange Price Performance

ICE stock opened at $174.08 on Tuesday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94. The firm has a market capitalization of $97.28 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a fifty day simple moving average of $158.90 and a two-hundred day simple moving average of $154.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its 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. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $1.71 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Key Stories Impacting Intercontinental Exchange

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

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.