Intercontinental Exchange Inc. $ICE Shares Purchased by AIA Group Ltd

Key Points

• AIA Group increased its Intercontinental Exchange stake by 425.9% in the third quarter, adding 99,990 shares to hold 123,465 shares valued at about $18.77 million.
• ICE reported quarterly EPS of $2.02, beating the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts give ICE a consensus “Moderate Buy” rating and a $189.25 price target; meanwhile, company insiders sold 36,309 shares worth about $5.79 million over the past 90 days.

AIA Group Ltd lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 425.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,465 shares of the financial services provider's stock after acquiring an additional 99,990 shares during the period. AIA Group Ltd's holdings in Intercontinental Exchange were worth $18,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Kintegral Advisory LLC raised its position in Intercontinental Exchange by 0.6% in the third quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider's stock worth $1,738,000 after purchasing an additional 64 shares in the last quarter. Gilpin Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 6.3% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 66 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 68 shares during the period. Chemistry Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider's stock worth $1,182,000 after buying an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. raised its holdings in shares of Intercontinental Exchange by 1.4% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider's stock worth $630,000 after buying an additional 69 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO James Namkung sold 2,430 shares of the company's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $165.00, for a total value of $400,950.00. Following the completion of the transaction, the chief accounting officer directly owned 14,102 shares in the company, valued at $2,326,830. The trade was a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,309 shares of company stock valued at $5,787,841. Insiders own 0.84% of the company's stock.

Intercontinental Exchange News Summary

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

• Positive Sentiment: New derivatives venture could open a growth opportunity. ICE plans to build a derivatives exchange using Hyperliquid’s infrastructure, in a deal involving Trade[XYZ]. Bringing perpetual futures to U.S. markets could create future trading and fee revenue for ICE, though the business opportunity is not yet proven. The Company Behind the New York Stock Exchange Is Now Building on Hyperliquid
• Positive Sentiment: Recent results and analyst targets offer support. ICE’s third-quarter adjusted EPS of $2.02 beat expectations, and revenue grew year over year. Recent reports also raised price targets, reflecting a constructive view of the company’s outlook. Intercontinental Exchange: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: CFTC approval provides a path, but not certainty, for the new product. The regulator has cleared stock perpetual futures for trading on CFTC-registered U.S. exchanges. This supports the possibility of ICE’s planned offering, but its eventual contribution to ICE’s results remains uncertain. The CFTC Just Cleared Stock Perpetual Futures for U.S. Exchanges
• Negative Sentiment: A senior accounting officer sold shares. CAO James Namkung sold 2,430 shares for about $401,000, reducing his holdings by 14.7%. The sale may be a mild negative signal, though it is small relative to ICE’s overall size. Intercontinental Exchange CAO Sells 2,430 Shares

Intercontinental Exchange Trading Down 0.7%

NYSE:ICE opened at $171.05 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The business's 50-day simple moving average is $157.94 and its 200-day simple moving average is $154.62. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.05. The stock has a market capitalization of $95.59 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.53 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the company earned $1.71 earnings per share. Intercontinental Exchange's quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, October 10th. Raymond James Financial lowered their target price on shares of Intercontinental Exchange from $218.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Monday, October 5th. Morgan Stanley increased their target price 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. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, October 30th. Finally, Barclays boosted their price target on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. 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 given a Sell rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $189.25.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.