Intercontinental Exchange Inc. $ICE Stock: Jefferies Financial Group Inc. Lowers Holdings

Jefferies Financial Group Inc. cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 33.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the financial services provider’s stock after selling 3,773 shares during the period. Jefferies Financial Group Inc.’s holdings in Intercontinental Exchange were worth $1,140,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Inspire Trust Co. N.A. increased its stake in shares of Intercontinental Exchange by 7.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 43,000 shares of the financial services provider’s stock valued at $6,537,000 after purchasing an additional 3,000 shares during the last quarter. Brooklyn FI LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth $238,000. AMG National Trust Bank lifted its position in shares of Intercontinental Exchange by 46.4% during the 3rd quarter. AMG National Trust Bank now owns 5,601 shares of the financial services provider’s stock worth $852,000 after buying an additional 1,776 shares during the last quarter. Montaka Global Pty Ltd lifted its position in shares of Intercontinental Exchange by 37.5% during the 3rd quarter. Montaka Global Pty Ltd now owns 36,224 shares of the financial services provider’s stock worth $5,507,000 after buying an additional 9,879 shares during the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Intercontinental Exchange by 7.7% during the 3rd quarter. Lido Advisors LLC now owns 132,557 shares of the financial services provider’s stock worth $20,153,000 after buying an additional 9,520 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded up $0.57 during mid-day trading on Friday, hitting $178.43. 2,203,731 shares of the stock traded hands, compared to its average volume of 3,534,859. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.38. The company has a market cap of $99.72 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. The firm has a 50 day simple moving average of $160.31 and a two-hundred day simple moving average of $154.73.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the company posted $1.71 EPS. Intercontinental Exchange’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.

Insider Activity

In other news, CAO James W. Namkung sold 3,777 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total value of $660,975.00. Following the completion of the transaction, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. This represents a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the president directly owned 156,532 shares of the company’s stock, valued at $27,847,042.80. This represents a 0.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,272 shares of company stock valued at $9,403,571. 0.84% of the stock is currently owned by company insiders.

Top Intercontinental Exchange Stories

Investors following ICE have been watching these stories:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Positive Sentiment: Analyst sentiment is favorable: ICE has a consensus “Moderate Buy” rating and an average price target of $189.25, above the roughly $178 share price cited in the coverage. Article: Intercontinental Exchange stock has consensus price target of $189.25
• Neutral Sentiment: A Seeking Alpha analysis remained bullish after ICE’s recent rally, supporting the longer-term outlook but noting a substantial run-up that could temper near-term upside. Article: Intercontinental Exchange: Still a Buy After the 18% Rally

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Bank of America boosted their target price on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. TD Cowen increased their target price on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, October 30th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Finally, Rothschild & Co Redburn lifted their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, September 10th. One research 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.25.

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.