StoneRidge PMG Advisors LLC Acquires New Stake in Intercontinental Exchange Inc. $ICE

StoneRidge PMG Advisors LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,784 shares of the financial services provider’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ICE. University of Texas Texas AM Investment Management Co. boosted its position in shares of Intercontinental Exchange by 28.6% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 1,087 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 242 shares in the last quarter. Atlas Wealth Partners LLC acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $200,000. Brighton Jones LLC increased its position in Intercontinental Exchange by 27.9% during the 3rd quarter. Brighton Jones LLC now owns 6,453 shares of the financial services provider’s stock valued at $981,000 after buying an additional 1,406 shares in the last quarter. Candriam S.C.A. increased its position in Intercontinental Exchange by 42.3% during the 3rd quarter. Candriam S.C.A. now owns 526,931 shares of the financial services provider’s stock valued at $80,402,000 after buying an additional 156,639 shares in the last quarter. Finally, Ethic Inc. raised its stake in Intercontinental Exchange by 0.5% in the third quarter. Ethic Inc. now owns 79,302 shares of the financial services provider’s stock valued at $12,056,000 after buying an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

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 value of $660,975.00. Following the completion of the transaction, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. The trade was a 26.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elizabeth King sold 1,919 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total value of $335,825.00. Following the completion of the sale, the insider owned 21,835 shares in the company, valued at $3,821,125. The trade was a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,737 shares of company stock worth $8,138,975 in the last three months. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Bank of America increased their price objective on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Finally, UBS Group restated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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 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 Trading Up 0.0%

Shares of Intercontinental Exchange stock opened at $172.28 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average price of $158.67 and a 200 day moving average price of $154.64. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $177.94. The stock has a market cap of $96.28 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

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.