Keybank National Association OH Sells 6,886 Shares of Intercontinental Exchange Inc. $ICE

Keybank National Association OH decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 332,936 shares of the financial services provider’s stock after selling 6,886 shares during the period. Keybank National Association OH’s holdings in Intercontinental Exchange were worth $50,616,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ICE. BlackRock Inc. acquired a new position in Intercontinental Exchange during the second quarter worth about $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Intercontinental Exchange in the second quarter worth about $714,869,000. Flossbach Von Storch SE acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $649,900,000. Bank of America Corp DE acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $521,557,000. Finally, Jupiter Topco LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $474,012,000. Institutional investors own 89.30% of the company’s stock.

Key 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 Stock Performance

Shares of ICE stock opened at $176.19 on Wednesday. The company has a market capitalization of $98.47 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.53 and a beta of 0.84. 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’s fifty day simple moving average is $159.21 and its 200-day simple moving average is $154.66.

Intercontinental Exchange (NYSE:ICE) 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 firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 45,466 shares of company stock worth $7,493,200. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Bank of America boosted their target price 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. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen increased their target price on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, October 30th. Finally, Barclays raised their target price 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. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.25.

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.