Intercontinental Exchange Inc. $ICE Stock Holdings Decreased by Rit Capital Partners PLC

Key Points

• Rit Capital Partners PLC cut its Intercontinental Exchange stake by 30.7% in the fourth quarter, selling 100,000 shares and leaving it with 225,300 shares worth about $36.5 million.
• Despite that sale, institutional ownership remains very high: hedge funds and other institutional investors own 89.30% of ICE, and several large firms increased their positions during recent quarters.
• ICE reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion topping expectations; analysts currently maintain a consensus Buy rating with a $194.60 price target.

Rit Capital Partners PLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,300 shares of the financial services provider's stock after selling 100,000 shares during the quarter. Intercontinental Exchange comprises approximately 8.2% of Rit Capital Partners PLC's holdings, making the stock its 7th largest holding. Rit Capital Partners PLC's holdings in Intercontinental Exchange were worth $36,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of ICE. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider's stock worth $416,544,000 after purchasing an additional 1,586,620 shares in the last quarter. Waverton Investment Management Ltd lifted its stake in Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider's stock worth $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Swedbank AB lifted its stake in Intercontinental Exchange by 43.3% in the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider's stock worth $571,252,000 after purchasing an additional 1,064,967 shares in the last quarter. Finally, Capital World Investors lifted its stake in Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock worth $1,184,238,000 after purchasing an additional 928,047 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ICE. UBS Group reiterated a "buy" rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Weiss Ratings cut shares of Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Piper Sandler reiterated an "overweight" rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Buy" and a consensus price target of $194.60.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $153.09 on Friday. The company has a market capitalization of $86.58 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.41 and a beta of 0.96. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The firm's 50-day moving average is $158.33 and its 200 day moving average is $159.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. Research analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,332 shares of company stock worth $1,794,334. Insiders own 0.84% of the company's stock.

Key Headlines Impacting Intercontinental Exchange

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

About Intercontinental Exchange

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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