Keybank National Association OH Sells 6,886 Shares of Intercontinental Exchange Inc. $ICE

Keybank National Association OH lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332,936 shares of the financial services provider’s stock after selling 6,886 shares during the period. Keybank National Association OH owned approximately 0.06% of Intercontinental Exchange worth $50,616,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ICE. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $26,000. Gables Capital Management Inc. bought a new position in Intercontinental Exchange in the 2nd quarter worth about $31,000. James T. Borello RIA grew its position in Intercontinental Exchange by 143.0% in the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Hughes Financial Services LLC increased its stake in shares of Intercontinental Exchange by 64.4% in the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 76 shares during the period. Finally, Fiduciary Financial Advisors acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $33,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICE. 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. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. UBS Group reissued 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. Morgan Stanley raised their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research report on Friday, October 9th. Finally, Argus cut their target price on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Intercontinental Exchange Stock Performance

ICE stock opened at $176.19 on Wednesday. The company has a market capitalization of $98.47 billion, a P/E ratio of 24.04, a PEG ratio of 1.53 and a beta of 0.84. The company has a 50-day simple moving average of $159.21 and a 200 day simple moving average of $154.66. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.94. 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 announced its earnings results 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. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. Intercontinental Exchange’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

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 45,466 shares of company stock worth $7,493,200 in the last three months. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange News Summary

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

• Positive Sentiment: ICE is expanding its energy markets with European wind futures, giving power-market participants a new way to hedge risks as renewable generation grows. The launch could broaden ICE’s product offering and create additional trading activity, though the financial impact was not specified. What Is Intercontinental Exchange (ICE) Betting On With New European Wind Futures?
• Positive Sentiment: Wall Street analysts remain moderately optimistic about ICE’s outlook despite the stock’s underperformance relative to the broader market over the past year. Intercontinental Exchange Stock: Analyst Estimates & Ratings
• Neutral Sentiment: The New York Stock Exchange, an ICE business, plans to use Avalanche blockchain exclusively to settle tokenized stocks on a forthcoming 24/7 trading platform. The initiative signals a push into digital-market infrastructure, but its eventual adoption and revenue contribution remain uncertain. NYSE to Settle Tokenized Stocks on Avalanche Blockchain
• Neutral Sentiment: ICE’s Mortgage Monitor reported that 2.4 million mortgage holders are “equity millionaires,” with home equity reaching a record in the third quarter. This highlights a strong housing-equity backdrop, but the report does not indicate a direct near-term effect on ICE’s results. ICE Mortgage Monitor: 2.4 Million Mortgage Holders Are Equity Millionaires as Q3 Home Equity Hits Record High
• Negative Sentiment: ICE’s president sold about $1.28 million in company shares, and its chief accounting officer sold about $661,000. Insider sales can weigh on sentiment, although the reports do not give a reason for the transactions. ICE President Sells Stock

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.