Intercontinental Exchange Inc. $ICE Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 191,658 shares of the financial services provider’s stock after buying an additional 10,742 shares during the period. PNC Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $31,041,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ICE. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after buying an additional 1,586,620 shares in the last quarter. Waverton Investment Management Ltd boosted its stake in Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after buying an additional 1,521,467 shares in the last quarter. Swedbank AB boosted its stake in Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock valued at $571,252,000 after buying an additional 1,064,967 shares in the last quarter. Finally, Capital World Investors boosted its stake in Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after buying an additional 928,047 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Trending Headlines about Intercontinental Exchange

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

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Analysts Set New Price Targets

Several research analysts recently weighed in on ICE shares. Barclays reaffirmed an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $194.60.

Intercontinental Exchange Trading Up 1.1%

NYSE:ICE opened at $153.09 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm has a market capitalization of $86.58 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. The stock has a fifty day simple moving average of $158.33 and a 200 day simple moving average of $159.97.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company posted $1.72 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,332 shares of company stock valued at $1,794,334. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.