Intercontinental Exchange Inc. $ICE Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,464 shares of the financial services provider’s stock after acquiring an additional 4,131 shares during the period. Maryland State Retirement & Pension System’s holdings in Intercontinental Exchange were worth $5,240,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hughes Financial Services LLC grew its holdings in shares of Intercontinental Exchange by 64.4% during the 3rd 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 last quarter. James T. Borello RIA raised 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 period. Rakuten Securities Inc. purchased a new position in Intercontinental Exchange in the 2nd quarter worth $26,000. Joseph Group Capital Management lifted its stake in Intercontinental Exchange by 55.4% in the third quarter. Joseph Group Capital Management now owns 244 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 87 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Intercontinental Exchange in the second quarter worth $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 1.5%

Shares of ICE opened at $177.80 on Friday. The stock has a market capitalization of $99.36 billion, a P/E ratio of 24.26, a PEG ratio of 1.59 and a beta of 0.84. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $160.03 and a two-hundred day simple moving average of $154.71.

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 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 analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, Director Sharon Bowen sold 2,100 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $174.51, for a total transaction of $366,471.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Elizabeth King sold 1,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total value of $335,825.00. Following the transaction, the insider directly owned 21,835 shares of the company’s stock, valued at $3,821,125. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,000 shares of company stock valued at $8,638,669 in the last quarter. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ICE. TD Cowen upped their price target on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, October 30th. Raymond James Financial decreased their price objective on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. Barclays boosted their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Deutsche Bank restated a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $189.25.

Key Intercontinental Exchange News

These are some of the ICE news items that stood out recently:

• Positive Sentiment: ICE and OKX plan to launch OKXICE, a 24/7 venue for eligible U.S. customers to trade tokenized versions of more than 70 assets starting Nov. 23. The initiative could open a new trading channel and broaden ICE’s reach, though adoption and execution remain to be seen. Article: NYSE Affiliate to Launch 24/7 Tokenized Stock Trading This Month
• Positive Sentiment: ICE plans to introduce wind futures covering seven European countries, expanding its derivatives offerings and potentially creating additional trading activity. Article: ICE Plans to Launch Wind Futures
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

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.