Woodley Farra Manion Portfolio Management Inc. Sells 155,495 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Woodley Farra Manion cut its Intercontinental Exchange stake by 35.4%, selling 155,495 shares in the third quarter and retaining 284,209 shares valued at about $43.2 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $189.25; views range from one Strong Buy and 12 Buys to three Holds and one Sell.
• ICE reported quarterly EPS of $2.02, above the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.

Woodley Farra Manion Portfolio Management Inc. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 284,209 shares of the financial services provider's stock after selling 155,495 shares during the period. Intercontinental Exchange accounts for approximately 2.2% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 21st largest holding. Woodley Farra Manion Portfolio Management Inc. owned about 0.05% of Intercontinental Exchange worth $43,208,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC lifted its position in shares of Intercontinental Exchange by 64.4% during the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider's stock valued at $32,000 after buying an additional 76 shares during the last quarter. James T. Borello RIA grew its position in shares of Intercontinental Exchange by 143.0% in the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider's stock worth $32,000 after buying an additional 123 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $26,000. Joseph Group Capital Management grew its position in shares of Intercontinental Exchange by 55.4% in the 3rd quarter. Joseph Group Capital Management now owns 244 shares of the financial services provider's stock worth $37,000 after buying an additional 87 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $31,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ICE. Jefferies Financial Group decreased their target price on shares of Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. Bank of America lifted their price target on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a "buy" rating in a report on Friday, October 2nd. TD Cowen lifted their price target on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a "hold" rating in a report on Friday, October 30th. Wells Fargo & Company upped their price target on Intercontinental Exchange from $160.00 to $167.00 and gave the stock an "underweight" rating in a research report on Friday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.25.

More Intercontinental Exchange News

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

• Positive Sentiment: ICE is expanding its energy markets with European wind futures, giving power-market participants a new way to hedge risks as renewable generation grows. The launch could broaden ICE’s product offering and create additional trading activity, though the financial impact was not specified. What Is Intercontinental Exchange (ICE) Betting On With New European Wind Futures?
• Positive Sentiment: Wall Street analysts remain moderately optimistic about ICE’s outlook despite the stock’s underperformance relative to the broader market over the past year. Intercontinental Exchange Stock: Analyst Estimates & Ratings
• Neutral Sentiment: The New York Stock Exchange, an ICE business, plans to use Avalanche blockchain exclusively to settle tokenized stocks on a forthcoming 24/7 trading platform. The initiative signals a push into digital-market infrastructure, but its eventual adoption and revenue contribution remain uncertain. NYSE to Settle Tokenized Stocks on Avalanche Blockchain
• Neutral Sentiment: ICE’s Mortgage Monitor reported that 2.4 million mortgage holders are “equity millionaires,” with home equity reaching a record in the third quarter. This highlights a strong housing-equity backdrop, but the report does not indicate a direct near-term effect on ICE’s results. ICE Mortgage Monitor: 2.4 Million Mortgage Holders Are Equity Millionaires as Q3 Home Equity Hits Record High
• Negative Sentiment: ICE’s president sold about $1.28 million in company shares, and its chief accounting officer sold about $661,000. Insider sales can weigh on sentiment, although the reports do not give a reason for the transactions. ICE President Sells Stock

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $176.19 on Wednesday. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.94. The company has a market cap of $98.47 billion, a PE ratio of 24.04, a P/E/G ratio of 1.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50-day simple moving average of $159.21 and a two-hundred day simple moving average of $154.66.

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the transaction, the insider owned 14,367 shares of the company's stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares of the company's stock, valued at $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,466 shares of company stock worth $7,493,200 in the last three months. 0.84% of the stock is owned by company insiders.

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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