Intercontinental Exchange Inc. $ICE Stock Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners increased its ICE stake by 311% in the third quarter, adding 17,673 shares to hold 23,356 shares valued at about $3.55 million. Institutional investors and hedge funds own 89.3% of the stock.
• ICE reported quarterly earnings of $2.02 per share, beating the $1.97 consensus estimate; revenue rose 14.7% year over year to $3.63 billion.
• Analysts gave ICE a “Moderate Buy” consensus rating and an average price target of $189.25. Company insiders sold 49,737 shares worth about $8.14 million during the quarter.

CenterBook Partners LP lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 311.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,356 shares of the financial services provider's stock after acquiring an additional 17,673 shares during the period. CenterBook Partners LP's holdings in Intercontinental Exchange were worth $3,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Intercontinental Exchange during the second quarter valued at about $6,245,085,000. Lombard Odier Asset Management Europe Ltd acquired a new position in Intercontinental Exchange during the first quarter valued at approximately $11,498,000. HF Advisory Group LLC raised its position in shares of Intercontinental Exchange by 147.5% in the third quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider's stock valued at $2,339,000 after purchasing an additional 9,169 shares during the period. NBT Bank N.A. acquired a new stake in shares of Intercontinental Exchange in the third quarter worth $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its stake in shares of Intercontinental Exchange by 35.5% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider's stock worth $40,817,000 after buying an additional 86,897 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president directly owned 15,863 shares in the company, valued at $2,538,080. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James 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 transaction, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,737 shares of company stock worth $8,138,975. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 1.0%

ICE opened at $172.28 on Friday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $177.94. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $96.28 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.52 and a beta of 0.84. The business has a 50 day moving average of $158.67 and a 200-day moving average of $154.64.

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

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the company an "equal weight" rating in a report on Friday, October 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Finally, Rothschild & Co Redburn lifted their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $189.25.

Key Intercontinental Exchange News

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

Intercontinental Exchange Company 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.

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.