Russell Investments Group Ltd. Sells 137,471 Shares of Intercontinental Exchange Inc. $ICE

Russell Investments Group Ltd. trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 600,580 shares of the financial services provider’s stock after selling 137,471 shares during the period. Russell Investments Group Ltd.’s holdings in Intercontinental Exchange were worth $91,315,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kintegral Advisory LLC grew its stake in shares of Intercontinental Exchange by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock worth $1,738,000 after buying an additional 64 shares during the last quarter. Gilpin Wealth Management LLC raised its stake in Intercontinental Exchange by 6.3% during the third quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock valued at $170,000 after buying an additional 66 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 68 shares in the last quarter. Chemistry Wealth Management LLC boosted its holdings in Intercontinental Exchange by 0.9% in the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. boosted its holdings in Intercontinental Exchange by 1.4% in the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 69 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.3%

NYSE ICE traded up $0.57 during mid-day trading on Friday, reaching $178.43. The stock had a trading volume of 2,203,731 shares, compared to its average volume of 3,534,859. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.38. The stock has a market cap of $99.72 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. The company has a fifty day moving average price of $160.31 and a 200 day moving average price of $154.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the firm posted $1.71 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ICE. Morgan Stanley increased their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. Raymond James Financial lowered their price target on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Intercontinental Exchange News Roundup

Here’s some of the latest news about ICE:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Neutral Sentiment: A Seeking Alpha analysis remained bullish after ICE’s recent rally, supporting the longer-term outlook but noting a substantial run-up that could temper near-term upside. Article: Intercontinental Exchange: Still a Buy After the 18% Rally
• Negative Sentiment: Three insiders disclosed stock sales: CTO Mayur Kapani sold 4,272 shares, General Counsel Andrew Surdykowski sold 4,575, and Director Sharon Bowen sold 2,100. Each retained shares, but the transactions could be a modest negative sentiment signal. SEC filing: Mayur Kapani transaction SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 2,100 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $174.51, for a total value of $366,471.00. Following the completion of the transaction, the director owned 12,977 shares in the company, valued at $2,264,616.27. The trade was a 13.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO James Namkung sold 3,777 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total value of $660,975.00. Following the transaction, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 56,272 shares of company stock worth $9,403,571. 0.84% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.