Intercontinental Exchange Inc. $ICE Stock: Candriam S.C.A. Raises Stake

Candriam S.C.A. boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 42.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,931 shares of the financial services provider’s stock after buying an additional 156,639 shares during the period. Candriam S.C.A. owned 0.09% of Intercontinental Exchange worth $80,402,000 as of its most recent SEC filing.

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

Intercontinental Exchange News Summary

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

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Intercontinental Exchange Price Performance

Shares of ICE opened at $172.28 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $177.94. The stock’s fifty day moving average is $158.67 and its 200-day moving average is $154.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $96.28 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on ICE shares. Raymond James Financial reduced their target price on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. TD Cowen boosted their price objective on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company boosted their price objective on Intercontinental Exchange from $160.00 to $167.00 and gave the stock an “underweight” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 400 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $177.90, for a total value of $71,160.00. Following the completion of the sale, the president directly owned 156,532 shares of the company’s stock, valued at approximately $27,847,042.80. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Edmonds sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,737 shares of company stock worth $8,138,975 in the last three months. Insiders own 0.84% of the company’s stock.

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.