12,921 Intercontinental Exchange Inc. $ICE Shares Sold by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 38.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,837 shares of the financial services provider’s stock after selling 12,921 shares during the period. Intercontinental Exchange comprises approximately 1.3% of Smallwood Wealth Investment Management LLC’s holdings, making the stock its 17th largest position. Smallwood Wealth Investment Management LLC’s holdings in Intercontinental Exchange were worth $3,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hughes Financial Services LLC increased its holdings in shares of Intercontinental Exchange by 64.4% in the 3rd quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 76 shares in the last quarter. James T. Borello RIA lifted its holdings in shares of Intercontinental Exchange by 143.0% during the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $26,000. Gables Capital Management Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter worth about $31,000. Finally, William Mack & Associates Inc. bought a new stake in Intercontinental Exchange in the 3rd quarter worth about $40,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price on Intercontinental Exchange from $160.00 to $167.00 and gave the stock an “underweight” rating in a research report on Friday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Bank of America upped their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Piper Sandler reissued 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. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew Surdykowski sold 4,574 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel directly owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,309 shares of company stock worth $5,787,841 in the last quarter. 0.84% of the stock is currently owned by insiders.

More Intercontinental Exchange News

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

• Positive Sentiment: Shares reached a fresh all-time high. The record suggests strong investor momentum. Bank of America Securities also maintained its Buy rating, reinforcing a favorable analyst view. ICE reaches a fresh all-time high Bank of America maintains Buy rating
• Positive Sentiment: Gateway Mortgage chose ICE’s servicing platform. Its selection of MSP and integrated servicing solutions adds a customer and may support ICE’s mortgage-technology business and recurring revenue. Gateway Mortgage selects ICE servicing solutions
• Positive Sentiment: ICE is pursuing new derivatives-market opportunities. Its planned exchange using Hyperliquid infrastructure could broaden its reach and create future trading-fee potential, though the opportunity faces regulatory and legal uncertainty. ICE plans a derivatives exchange using Hyperliquid
• Neutral Sentiment: ICE released October trading statistics. The monthly report provides investors with operating data, but the supplied article details no figures to indicate whether activity improved. CFO Warren Gardiner is also scheduled to speak at a November 17 investor conference, offering a potential update but no new guidance yet. ICE reports October statistics ICE CFO to present at investor conference
• Negative Sentiment: A lawsuit could complicate the new futures opportunity. Cboe and Citadel Securities are challenging the CFTC’s approval of stock perpetual futures. If the challenge succeeds, it could delay or constrain the U.S. market ICE hopes to enter. Cboe and Citadel sue over approval of stock perpetual futures

Intercontinental Exchange Stock Up 2.3%

ICE opened at $174.91 on Thursday. The firm’s 50 day simple moving average is $158.20 and its two-hundred day simple moving average is $154.63. The company has a market capitalization of $97.75 billion, a PE ratio of 23.86, a PEG ratio of 1.50 and a beta of 0.84. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. 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 issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.