Inspire Trust Co. N.A. Buys 3,000 Shares of Intercontinental Exchange Inc. $ICE

Inspire Trust Co. N.A. grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,000 shares of the financial services provider’s stock after buying an additional 3,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Intercontinental Exchange were worth $6,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the second quarter valued at $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Flossbach Von Storch SE purchased a new position in shares of Intercontinental Exchange in the second quarter worth approximately $649,900,000. Bank of America Corp DE bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $521,557,000. Finally, Jupiter Topco LLC bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $474,012,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange News Summary

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

NYSE ICE opened at $176.19 on Wednesday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.94. The stock has a market cap of $98.47 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.53 and a beta of 0.84. The company’s 50 day moving average is $159.21 and its two-hundred day moving average is $154.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

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

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Edmonds sold 5,000 shares of the company’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 represents a 25.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The stock was 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 owned 22,698 shares of the company’s stock, valued at $3,547,697.40. The trade was a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,466 shares of company stock worth $7,493,200 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ICE shares. Bank of America increased their price target on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. TD Cowen boosted their price objective on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, October 30th. The Goldman Sachs Group raised their target price on Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Morgan Stanley lifted their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research report on Friday, October 9th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. One investment 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. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $189.25.

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.