Guinness Asset Management LTD Has $54.46 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Guinness Asset Management boosted its stake in Intercontinental Exchange by 19% in the fourth quarter, now holding 335,545 shares valued at about $54.46 million.
• Intercontinental Exchange is seeing continued product expansion, including perpetual futures tied to Brent and WTI crude on OKX and its first battery materials futures contracts.
• The company recently posted better-than-expected Q1 results, with EPS of $2.35 versus estimates of $2.23 and revenue up 20.4% year over year; analysts still broadly rate the stock a Buy with a consensus target of $194.60.

Guinness Asset Management LTD increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 335,545 shares of the financial services provider's stock after acquiring an additional 53,495 shares during the period. Intercontinental Exchange accounts for about 0.9% of Guinness Asset Management LTD's holdings, making the stock its 26th largest position. Guinness Asset Management LTD owned about 0.06% of Intercontinental Exchange worth $54,458,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. ICONIQ Capital LLC increased its holdings in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp increased its holdings in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock valued at $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP increased its holdings in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock valued at $548,000 after acquiring an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Key Intercontinental Exchange News

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

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $153.09 on Friday. The business has a 50 day moving average price of $158.33 and a 200 day moving average price of $159.97. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a market cap of $86.58 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.40 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares of the company's stock, valued at $7,805,322. This represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,332 shares of company stock worth $1,794,334. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. UBS Group reissued a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Barclays restated an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Buy" and a consensus target price of $194.60.

Intercontinental Exchange 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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