435,332 Shares of Intercontinental Exchange Inc. $ICE Purchased by Migdal Insurance & Financial Holdings Ltd.

Key Points

• Migdal Insurance & Financial Holdings initiated a stake in Intercontinental Exchange, buying 435,332 shares worth about $66.2 million, or roughly 0.08% of the company.
• ICE reported quarterly earnings of $2.02 per share, beating the $1.97 consensus estimate, while revenue rose 14.7% year over year to $3.63 billion.
• The shares recently traded at $178.43; analysts’ consensus rating was Moderate Buy, with an average price target of $189.25.

Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 435,332 shares of the financial services provider's stock, valued at approximately $66,184,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.08% of Intercontinental Exchange at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Drive Wealth Management LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $294,000. ProVise Management Group LLC lifted its position in Intercontinental Exchange by 130.2% in the third quarter. ProVise Management Group LLC now owns 54,525 shares of the financial services provider's stock worth $8,289,000 after buying an additional 30,835 shares during the last quarter. EagleClaw Capital Managment LLC boosted its stake in Intercontinental Exchange by 1.0% during the third quarter. EagleClaw Capital Managment LLC now owns 70,450 shares of the financial services provider's stock worth $10,711,000 after buying an additional 705 shares during the period. William Blair Investment Management LLC boosted its stake in Intercontinental Exchange by 21.0% during the third quarter. William Blair Investment Management LLC now owns 7,013 shares of the financial services provider's stock worth $1,066,000 after buying an additional 1,215 shares during the period. Finally, Money Concepts Capital Corp purchased a new position in Intercontinental Exchange during the third quarter worth $232,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 0.3%

Intercontinental Exchange stock traded up $0.57 during mid-day trading on Friday, hitting $178.43. The company's stock had a trading volume of 2,203,731 shares, compared to its average volume of 3,534,859. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average of $160.31 and a 200-day moving average of $154.73. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.38. The stock has a market cap of $99.72 billion, a PE ratio of 24.34, a P/E/G ratio of 1.57 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results 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. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $1.71 earnings per share. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the company an "underweight" rating in a research note on Friday, October 30th. Weiss Ratings raised shares of Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 21st. TD Cowen lifted their price target on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a "hold" rating in a research note on Friday, October 30th. UBS Group reiterated a "buy" rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an "equal weight" rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $189.25.

More Intercontinental Exchange News

Investors following ICE have been watching these news items:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Neutral Sentiment: A Seeking Alpha analysis remained bullish after ICE’s recent rally, supporting the longer-term outlook but noting a substantial run-up that could temper near-term upside. Article: Intercontinental Exchange: Still a Buy After the 18% Rally
• Negative Sentiment: Three insiders disclosed stock sales: CTO Mayur Kapani sold 4,272 shares, General Counsel Andrew Surdykowski sold 4,575, and Director Sharon Bowen sold 2,100. Each retained shares, but the transactions could be a modest negative sentiment signal. SEC filing: Mayur Kapani transaction SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares of the company's stock, valued at $2,307,196.53. The trade was a 25.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,575 shares of the business's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $175.05, for a total transaction of $800,853.75. Following the completion of the sale, the general counsel directly owned 40,554 shares of the company's stock, valued at approximately $7,098,977.70. This trade represents a 10.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,272 shares of company stock valued at $9,403,571. Company 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.

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