Jefferies Financial Group Inc. Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Jefferies Financial Group cut its stake in Intercontinental Exchange by 96.3% in the fourth quarter, selling 102,558 shares and leaving it with 3,945 shares worth about $639,000.
• Other institutional investors were mostly adding to ICE, and hedge funds and institutions still own a large majority of the company at 89.30% of shares outstanding.
• ICE reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion rising 20.4% year over year, while analysts maintain a broadly positive view with a consensus Buy rating and $194.60 target price.

Jefferies Financial Group Inc. decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 96.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,945 shares of the financial services provider's stock after selling 102,558 shares during the period. Jefferies Financial Group Inc.'s holdings in Intercontinental Exchange were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider's stock worth $31,041,000 after acquiring an additional 10,742 shares during the last quarter. Rockland Trust Co. raised its stake in Intercontinental Exchange by 19.7% in the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider's stock worth $21,507,000 after acquiring an additional 20,981 shares during the last quarter. M&G PLC grew its position in Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock worth $17,988,000 after purchasing an additional 16,635 shares during the period. McKinley Carter Wealth Services Inc. grew its position in Intercontinental Exchange by 15.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider's stock worth $5,308,000 after purchasing an additional 4,333 shares during the period. Finally, Bright Rock Capital Management LLC grew its position in Intercontinental Exchange by 50.0% during the 3rd quarter. Bright Rock Capital Management LLC now owns 45,000 shares of the financial services provider's stock worth $7,582,000 after purchasing an additional 15,000 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $147.85 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week 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 market capitalization of $83.61 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96. The stock's 50-day moving average price is $157.38 and its 200-day moving average price is $160.07.

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

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,001 shares of company stock valued at $1,847,820. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ICE shares. Barclays reaffirmed an "overweight" rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target on the stock. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $194.60.

Key Intercontinental Exchange News

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

• Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
• Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
• Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
• Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
• Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares

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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