Intercontinental Exchange Inc. $ICE Position Increased by Empowered Funds LLC

Key Points

• Empowered Funds increased its Intercontinental Exchange position by 59.3% in the first quarter, bringing its holdings to 34,835 shares valued at approximately $5.48 million. Institutional investors and hedge funds own 89.3% of ICE shares.
• ICE reported quarterly earnings of $1.90 per share, exceeding the $1.84 analyst consensus, while revenue rose 4.8% year over year to $3.61 billion. Analysts expect about $7.98 in full-year EPS.
• Despite a consensus “Moderate Buy” rating and an average price target of $183.33, insiders sold 13,425 shares worth roughly $2.05 million over the past 90 days, and the stock was recently trading at $152.64.

Empowered Funds LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 59.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,835 shares of the financial services provider's stock after purchasing an additional 12,973 shares during the quarter. Empowered Funds LLC's holdings in Intercontinental Exchange were worth $5,479,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after buying an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Swiss RE Ltd. bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, Dorato Capital Management acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company's stock, valued at $2,807,608.72. The trade was a 6.21% 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, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company's stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 in the last ninety days. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 2.3%

Shares of Intercontinental Exchange stock opened at $152.64 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month 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 stock has a 50 day moving average price of $139.48 and a two-hundred day moving average price of $153.69. The stock has a market capitalization of $86.32 billion, a P/E ratio of 21.56, a PEG ratio of 1.59 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on ICE shares. Weiss Ratings raised shares of Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target on the stock. Barclays reaffirmed an "overweight" rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a report on Monday, July 6th. Finally, Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $183.33.

Key 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 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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