Rakuten Investment Management Inc. Buys 8,482 Shares of Intercontinental Exchange Inc. $ICE

Rakuten Investment Management Inc. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,031 shares of the financial services provider’s stock after purchasing an additional 8,482 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Intercontinental Exchange were worth $15,376,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $6,245,085,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in Intercontinental Exchange in the 1st quarter worth about $11,498,000. HF Advisory Group LLC raised its holdings in shares of Intercontinental Exchange by 147.5% during the third quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider’s stock worth $2,339,000 after acquiring an additional 9,169 shares in the last quarter. NBT Bank N.A. acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its stake in shares of Intercontinental Exchange by 35.5% during the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock worth $40,817,000 after acquiring an additional 86,897 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays raised their price objective on Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Rothschild & Co Redburn increased their target price on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Piper Sandler restated an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. One investment 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 stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $189.25.

Key Headlines Impacting Intercontinental Exchange

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

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were 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 directly owned 22,698 shares of the company’s stock, valued at $3,547,697.40. The trade was a 9.89% 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, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,309 shares of company stock valued at $5,787,841 over the last ninety days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $174.91 on Thursday. The stock has a 50 day moving average of $158.20 and a 200-day moving average of $154.63. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.05. The company has a market capitalization of $97.75 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.50 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

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 the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.21 EPS for the current 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.