12,900 Shares in Intercontinental Exchange Inc. $ICE Purchased by Carlson Capital L.P.

Key Points

• Carlson Capital acquired 12,900 shares of Intercontinental Exchange worth approximately $2.03 million, making ICE its 22nd-largest holding and representing about 0.6% of its portfolio. Institutional investors collectively own 89.3% of the company.
• ICE’s second-quarter results exceeded expectations, with adjusted EPS of $1.90 versus the $1.84 consensus and revenue up 4.8% year over year. The company also returned $945 million to shareholders, expanded its buyback authorization to $4 billion, and raised its quarterly dividend 8% to $0.52 per share.
• ICE plans to acquire MarketAxess for nearly $6 billion in cash to expand its electronic fixed-income trading and data businesses. While analysts maintain a “Moderate Buy” consensus with an average $183.33 price target, investors remain cautious about the deal’s capital demands and integration risks.

Carlson Capital L.P. acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,900 shares of the financial services provider's stock, valued at approximately $2,029,000. Intercontinental Exchange accounts for about 0.6% of Carlson Capital L.P.'s holdings, making the stock its 22nd largest position.

A number of other large investors also recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its stake in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Glenmede Trust Co. NA now owns 198,659 shares of the financial services provider's stock valued at $31,245,000 after acquiring an additional 795 shares during the period. Axiom Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $431,000. Segall Bryant & Hamill LLC purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $12,908,000. Compass Capital Management Inc. increased its holdings in Intercontinental Exchange by 5.8% in the 1st quarter. Compass Capital Management Inc. now owns 382,602 shares of the financial services provider's stock valued at $60,176,000 after purchasing an additional 21,116 shares during the last quarter. Finally, Western Wealth Management LLC increased its holdings in Intercontinental Exchange by 275.0% in the 1st quarter. Western Wealth Management LLC now owns 8,952 shares of the financial services provider's stock valued at $1,408,000 after purchasing an additional 6,565 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

More Intercontinental Exchange News

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

• Positive Sentiment: ICE reported second-quarter adjusted earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue reached approximately $2.7 billion, up 5% year over year. Growth in recurring data and mortgage technology helped offset weaker energy-related activity. ICE Q2 Earnings Beat on Data Growth and Mortgage Strength
• Positive Sentiment: The company returned $945 million to shareholders during the quarter, including $651 million in repurchases, and increased its authorized buyback capacity to $4 billion. ICE also raised its quarterly dividend 8% year over year to $0.52 per share. ICE Approves Third Quarter Dividend
• Positive Sentiment: The MarketAxess deal would expand ICE’s electronic fixed-income trading, market-data and distribution capabilities. Management is positioning the acquisition to benefit from the long-term shift from voice-based to electronic bond trading. The transaction is expected to close in the first half of 2027. Rise of Bond E-Trading Underpins ICE’s MarketAxess Deal
• Neutral Sentiment: MarketAxess shares surged roughly 30% after ICE offered a premium of about 33% to its unaffected price, highlighting the strategic value of the target but also making the transaction a significant capital commitment for ICE. NYSE Parent ICE to Purchase MarketAxess
• Negative Sentiment: Investors appear concerned that paying nearly $6 billion in cash could pressure near-term returns, increase execution and integration risk, and limit financial flexibility. The market’s initial reaction was cautious despite the earnings beat, with ICE shares underperforming broader equities.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $152.64 on Friday. The firm has a market cap of $86.32 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week 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. The company's 50 day moving average is $139.48 and its two-hundred day moving average is $153.69.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. On average, research analysts expect that Intercontinental Exchange Inc. will post 7.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company's stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Barclays restated an "overweight" rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday. Piper Sandler cut their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective on the stock. Finally, Weiss Ratings raised Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.33.

Intercontinental Exchange Company Profile

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.

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