Clearstead Advisors LLC Acquires 4,075 Shares of Intercontinental Exchange Inc. $ICE

Clearstead Advisors LLC increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 127,303 shares of the financial services provider’s stock after buying an additional 4,075 shares during the period. Clearstead Advisors LLC’s holdings in Intercontinental Exchange were worth $20,618,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the period. Mawer Investment Management Ltd. lifted its holdings in Intercontinental Exchange by 179.1% in the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after buying an additional 1,586,620 shares during the period. Waverton Investment Management Ltd lifted its holdings in Intercontinental Exchange by 28,886.8% in the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after buying an additional 1,521,467 shares during the period. Swedbank AB lifted its holdings in Intercontinental Exchange by 43.3% in the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after buying an additional 1,064,967 shares during the period. Finally, Capital World Investors lifted its holdings in Intercontinental Exchange by 15.2% in the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after buying an additional 928,047 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the transaction, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 11,332 shares of company stock worth $1,794,334. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ICE. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Piper Sandler restated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $194.60.

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

Intercontinental Exchange Price Performance

ICE stock opened at $153.09 on Monday. The firm has a 50 day moving average price of $158.33 and a 200-day moving average price of $160.07. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The firm 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. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business earned $1.72 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Intercontinental Exchange Profile

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.