Intercontinental Exchange Inc. $ICE Stock: Kestra Advisory Services LLC Boosts Position

Key Points

• Kestra Advisory Services increased its ICE stake by 49.5% in the third quarter, adding 34,146 shares to hold 103,195 shares valued at about $15.7 million.
• Institutional investors own 89.3% of ICE, with several major funds reporting increased or new positions. Company insiders, meanwhile, sold a combined 49,737 shares over the last quarter.
• ICE beat quarterly earnings expectations, reporting $2.02 per share and revenue up 14.7% year over year. Analysts’ average rating is “Moderate Buy,” with an average price target of $189.25.

Kestra Advisory Services LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 49.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 103,195 shares of the financial services provider's stock after purchasing an additional 34,146 shares during the period. Kestra Advisory Services LLC's holdings in Intercontinental Exchange were worth $15,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ICE. BlackRock Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $6,245,085,000. State Street Corp raised its position in Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider's stock worth $3,196,758,000 after acquiring an additional 415,490 shares during the last quarter. Wellington Management Group LLP raised its position in Intercontinental Exchange by 16.1% during the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider's stock worth $1,454,209,000 after acquiring an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Intercontinental Exchange during the second quarter worth about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intercontinental Exchange by 1.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider's stock worth $652,257,000 after purchasing an additional 52,910 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other news, CAO James W. Namkung sold 3,777 shares of the business's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the sale, the chief accounting officer owned 10,325 shares in the company, valued at approximately $1,806,875. The trade was a 26.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares of the company's stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 49,737 shares of company stock worth $8,138,975. Corporate 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 is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Analyst Ratings Changes

A number of research firms recently issued reports on ICE. Barclays upped their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. TD Cowen raised their price target on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a "hold" rating in a research report on Friday, October 30th. Weiss Ratings raised Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 21st. Jefferies Financial Group cut their price target on Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. Finally, Rothschild & Co Redburn upped their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $189.25.

Intercontinental Exchange Trading Up 0.0%

ICE stock opened at $172.28 on Monday. The company has a market cap of $96.28 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.52 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. The business has a fifty day simple moving average of $158.67 and a 200-day simple moving average of $154.64. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating 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 firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter last year, the firm earned $1.71 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Intercontinental Exchange Profile

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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