Intercontinental Exchange Inc. $ICE Stock Holdings Boosted by CenterBook Partners LP

CenterBook Partners LP lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 311.0% in the third quarter, Holdings Channel.com reports. The fund owned 23,356 shares of the financial services provider’s stock after purchasing an additional 17,673 shares during the quarter. CenterBook Partners LP’s holdings in Intercontinental Exchange were worth $3,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Intercontinental Exchange in the second quarter worth about $6,245,085,000. Lombard Odier Asset Management Europe Ltd bought a new position in Intercontinental Exchange during the first quarter worth about $11,498,000. HF Advisory Group LLC boosted its holdings in 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 valued at $2,339,000 after purchasing an additional 9,169 shares in the last quarter. NBT Bank N.A. acquired a new stake in Intercontinental Exchange during the third quarter valued at approximately $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its holdings in Intercontinental Exchange by 35.5% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock valued at $40,817,000 after purchasing an additional 86,897 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Key Intercontinental Exchange News

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

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Intercontinental Exchange Trading Down 1.0%

Shares of Intercontinental Exchange stock opened at $172.28 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.94. The stock has a market capitalization of $96.28 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. The company has a 50-day simple moving average of $158.67 and a 200 day simple moving average of $154.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ICE. Weiss Ratings raised Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Raymond James Financial cut their target price on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. Morgan Stanley boosted their price target on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $189.25.

Insider Activity at Intercontinental Exchange

In related news, insider Elizabeth King sold 1,919 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $335,825.00. Following the sale, the insider directly owned 21,835 shares in the company, valued at $3,821,125. This represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president directly owned 15,863 shares of the company’s stock, valued at $2,538,080. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,737 shares of company stock valued at $8,138,975. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

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.