6,872 Intercontinental Exchange Inc. $ICE Shares Purchased by AlphaCore Capital LLC

Key Points

• AlphaCore Capital increased its ICE stake by 9.8%, buying 6,872 shares and bringing its holdings to 76,950 shares, valued at about $11.7 million.
• ICE reported quarterly earnings of $2.02 per share, beating the $1.97 consensus estimate; revenue rose 14.7% year over year to $3.63 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $189.25. Insiders sold 49,737 shares worth about $8.1 million over the prior 90 days.

AlphaCore Capital LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,950 shares of the financial services provider's stock after purchasing an additional 6,872 shares during the quarter. AlphaCore Capital LLC's holdings in Intercontinental Exchange were worth $11,699,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $6,245,085,000. State Street Corp raised its stake in 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 valued at $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP raised its holdings in 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 valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the last quarter. Amundi lifted its stake in shares of Intercontinental Exchange by 49.6% during the 1st quarter. Amundi now owns 4,997,079 shares of the financial services provider's stock worth $785,941,000 after purchasing an additional 1,656,220 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $714,869,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other news, insider Christopher Edmonds sold 5,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider owned 14,367 shares of the company's stock, valued at $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares of the company's stock, valued at approximately $6,966,625.05. This trade represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 49,737 shares of company stock valued at $8,138,975 over the last ninety days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $174.08 on Tuesday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $177.94. The firm has a fifty day moving average of $158.90 and a 200-day moving average of $154.65. The firm has a market capitalization of $97.28 billion, a P/E ratio of 21.92, a PEG ratio of 1.54 and a beta of 0.84. 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 - Get Free Report) last issued its 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. 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 for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $1.71 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. Piper Sandler reaffirmed an "overweight" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Weiss Ratings upgraded Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 21st. Wells Fargo & Company raised their price target on Intercontinental Exchange from $160.00 to $167.00 and gave the stock an "underweight" rating in a research note on Friday, October 30th. Bank of America raised their price target on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a "buy" rating in a research note on Friday, October 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $189.25.

Key Intercontinental Exchange News

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

• Positive Sentiment: ICE plans to launch European wind futures, extending its energy-derivatives offerings. The contracts could create new trading and clearing opportunities as renewable power markets grow, though no expected revenue contribution was disclosed. Article: ICE to launch European wind futures Article: ICE Joins Wind Derivatives Push
• Neutral Sentiment: The NYSE intends to settle tokenized stocks on Avalanche for its planned 24/7 trading platform. The move could strengthen ICE’s position in emerging market infrastructure, but the platform’s execution and commercial impact remain uncertain. Article: NYSE to Settle Tokenized Stocks on Avalanche
• Neutral Sentiment: Analysts remain moderately optimistic despite ICE’s relative underperformance over the past year; the report provides no specific new forecast or rating change. Article: Intercontinental Exchange Stock: Analyst Estimates & Ratings
• Neutral Sentiment: ICE’s mortgage report says 2.4 million mortgage holders are equity millionaires and home equity reached a record in Q3. This highlights ICE’s mortgage-data business, but the article does not indicate a direct earnings effect. Article: ICE Mortgage Monitor
• Neutral Sentiment: ICE market commentary on canola describes commodity-price movements, but offers no clear company-specific catalyst for the stock. Article: ICE Closing Review: Canola Defies Pressure
• Negative Sentiment: ICE’s president sold about $1.28 million in shares, and its CAO sold about $661,000. Insider sales may weigh on sentiment, though the reports give no reason for the transactions and they do not necessarily indicate a change in business outlook. Article: President Sells Stock Article: CAO Sells Stock

About Intercontinental Exchange

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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