Migdal Insurance & Financial Holdings Ltd. Buys 435,332 Shares of Intercontinental Exchange Inc. $ICE

Migdal Insurance & Financial Holdings Ltd. bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 435,332 shares of the financial services provider’s stock, valued at approximately $66,184,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Drive Wealth Management LLC bought a new position in Intercontinental Exchange during the 3rd quarter worth about $294,000. ProVise Management Group LLC raised its holdings in shares of Intercontinental Exchange by 130.2% in the 3rd quarter. ProVise Management Group LLC now owns 54,525 shares of the financial services provider’s stock valued at $8,289,000 after purchasing an additional 30,835 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of Intercontinental Exchange by 1.0% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 70,450 shares of the financial services provider’s stock valued at $10,711,000 after purchasing an additional 705 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Intercontinental Exchange by 21.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,013 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Money Concepts Capital Corp purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $232,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, insider Christopher Edmonds sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the transaction, the insider owned 14,367 shares in the company, valued at $2,307,196.53. The trade was a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 4,272 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $179.05, for a total transaction of $764,901.60. Following the sale, the chief technology officer directly owned 69,480 shares of the company’s stock, valued at $12,440,394. The trade was a 5.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,272 shares of company stock worth $9,403,571 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Latest Intercontinental Exchange News

These are some of the ICE news items that stood out recently:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Positive Sentiment: Analyst sentiment is favorable: ICE has a consensus “Moderate Buy” rating and an average price target of $189.25, above the roughly $178 share price cited in the coverage. Article: Intercontinental Exchange stock has consensus price target of $189.25
• Negative Sentiment: Three insiders disclosed stock sales: CTO Mayur Kapani sold 4,272 shares, General Counsel Andrew Surdykowski sold 4,575, and Director Sharon Bowen sold 2,100. Each retained shares, but the transactions could be a modest negative sentiment signal. SEC filing: Mayur Kapani transaction SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Intercontinental Exchange Stock Up 0.3%

Intercontinental Exchange stock traded up $0.57 during trading hours on Friday, reaching $178.43. The stock had a trading volume of 2,203,731 shares, compared to its average volume of 3,534,859. The company has a market cap of $99.72 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.57 and a beta of 0.84. 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 business’s 50 day moving average price is $160.31 and its 200-day moving average price is $154.73. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.38.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on ICE. Rothschild & Co Redburn increased their price objective on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays increased their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.