Intercontinental Exchange Inc. $ICE is Rit Capital Partners PLC’s 7th Largest Position

Rit Capital Partners PLC trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,300 shares of the financial services provider’s stock after selling 100,000 shares during the period. Intercontinental Exchange comprises 8.2% of Rit Capital Partners PLC’s holdings, making the stock its 7th biggest holding. Rit Capital Partners PLC’s holdings in Intercontinental Exchange were worth $36,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ICE. Brighton Jones LLC boosted its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC boosted its position in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC boosted its position in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares during the period. NewEdge Advisors LLC boosted its position in Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after buying an additional 6,373 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 1.1%

NYSE:ICE opened at $153.09 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The firm has a 50 day moving average of $158.33 and a 200 day moving average of $159.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $86.58 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.41 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,332 shares of company stock valued at $1,794,334 over the last 90 days. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. UBS Group reaffirmed a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Piper Sandler reaffirmed 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 equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Buy” and an average target price of $194.60.

More Intercontinental Exchange News

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

Intercontinental Exchange 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.