SG Americas Securities LLC Buys 253,786 Shares of Intercontinental Exchange Inc. $ICE

SG Americas Securities LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 114.4% during the first quarter, HoldingsChannel reports. The firm owned 475,579 shares of the financial services provider’s stock after purchasing an additional 253,786 shares during the quarter. SG Americas Securities LLC’s holdings in Intercontinental Exchange were worth $74,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Dorato Capital Management bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Steph & Co. lifted its stake in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Finally, UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 2.0%

ICE stock opened at $131.23 on Tuesday. The business has a 50 day moving average of $150.73 and a 200 day moving average of $158.44. The firm has a market cap of $74.21 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $129.82 and a twelve month high of $189.35. 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 (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping 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 the consensus estimate of $2.88 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal 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.