Intercontinental Exchange Inc. $ICE Holdings Lifted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 18,712.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,337 shares of the financial services provider’s stock after acquiring an additional 7,298 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $1,115,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $6,245,085,000. State Street Corp raised its position in shares of Intercontinental Exchange by 1.6% in the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after purchasing an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intercontinental Exchange by 1.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock worth $652,257,000 after purchasing an additional 52,910 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Bank of America raised their price objective on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Wells Fargo & Company lifted their target price on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the stock an “underweight” rating in a report on Friday, October 30th. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.25.

Intercontinental Exchange News Summary

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

• Positive Sentiment: Shares reached a fresh all-time high. The record suggests strong investor momentum. Bank of America Securities also maintained its Buy rating, reinforcing a favorable analyst view. ICE reaches a fresh all-time high Bank of America maintains Buy rating
• Positive Sentiment: Gateway Mortgage chose ICE’s servicing platform. Its selection of MSP and integrated servicing solutions adds a customer and may support ICE’s mortgage-technology business and recurring revenue. Gateway Mortgage selects ICE servicing solutions
• Positive Sentiment: ICE is pursuing new derivatives-market opportunities. Its planned exchange using Hyperliquid infrastructure could broaden its reach and create future trading-fee potential, though the opportunity faces regulatory and legal uncertainty. ICE plans a derivatives exchange using Hyperliquid
• Neutral Sentiment: ICE released October trading statistics. The monthly report provides investors with operating data, but the supplied article details no figures to indicate whether activity improved. CFO Warren Gardiner is also scheduled to speak at a November 17 investor conference, offering a potential update but no new guidance yet. ICE reports October statistics ICE CFO to present at investor conference
• Negative Sentiment: A lawsuit could complicate the new futures opportunity. Cboe and Citadel Securities are challenging the CFTC’s approval of stock perpetual futures. If the challenge succeeds, it could delay or constrain the U.S. market ICE hopes to enter. Cboe and Citadel sue over approval of stock perpetual futures

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,309 shares of company stock worth $5,787,841 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Up 2.3%

ICE stock opened at $174.91 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. The business has a fifty day moving average price of $158.20 and a 200-day moving average price of $154.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $97.75 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.50 and a beta of 0.84.

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

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.