Intercontinental Exchange Inc. $ICE Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 19.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 29,005 shares of the financial services provider’s stock after selling 6,883 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $4,562,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp grew its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares in the last quarter. Mission Wealth Management LP increased its holdings in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ICE shares. Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. UBS Group reissued a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.36.

Intercontinental Exchange News Summary

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

• Positive Sentiment: ICE announced a joint venture with OKX to build U.S.-regulated infrastructure that will connect traditional finance and digital assets, potentially opening new revenue opportunities in tokenized equities and futures. Intercontinental Exchange and OKX Establish Joint Venture to Bridge Traditional and Digital Asset Markets
• Positive Sentiment: The company also launched ICE GreenTrace, a new environmental registry technology service, expanding its market infrastructure footprint into carbon credit registries. ICE Launches ICE GreenTrace its New Environmental Registry Technology Service
• Neutral Sentiment: Former New York Governor Andrew Cuomo was named to help lead the OKX-ICE venture, which adds visibility to the project but does not yet change fundamentals because it still needs regulatory approval. Andrew Cuomo to lead joint TradFi-crypto venture between OKX and Intercontinental Exchange
• Neutral Sentiment: TD Cowen trimmed its price target on ICE to $153 from $193, though it kept a buy rating, signaling continued upside but slightly less optimism than before. Intercontinental Exchange price target lowered by TD Cowen

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $131.23 on Tuesday. Intercontinental Exchange Inc. has a 52 week low of $129.82 and a 52 week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $74.21 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.28 and a beta of 0.92. The stock has a 50 day moving average of $150.73 and a 200-day moving average of $158.44.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company posted $1.72 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

About Intercontinental Exchange

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.