Maryland State Retirement & Pension System Buys 4,131 Shares of Intercontinental Exchange Inc. $ICE

Maryland State Retirement & Pension System grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 13.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,464 shares of the financial services provider’s stock after purchasing an additional 4,131 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Intercontinental Exchange were worth $5,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Kintegral Advisory LLC boosted its stake in shares of Intercontinental Exchange by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock valued at $1,738,000 after purchasing an additional 64 shares in the last quarter. Gilpin Wealth Management LLC increased its position in shares of Intercontinental Exchange by 6.3% during the third quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock valued at $170,000 after buying an additional 66 shares during the period. Cornerstone Planning Group LLC raised its stake in Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares in the last quarter. Chemistry Wealth Management LLC raised its stake in Intercontinental Exchange by 0.9% in the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. raised its stake in Intercontinental Exchange by 1.4% in the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock worth $630,000 after buying an additional 69 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CAO James Namkung sold 3,777 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the sale, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. This trade represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth King sold 1,919 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $335,825.00. Following the completion of the transaction, the insider owned 21,835 shares of the company’s stock, valued at approximately $3,821,125. The trade was a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,000 shares of company stock valued at $8,638,669 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Trending Headlines about Intercontinental Exchange

Here are a few of the latest headlines about ICE:

• Positive Sentiment: ICE and OKX plan to launch OKXICE, a 24/7 venue for eligible U.S. customers to trade tokenized versions of more than 70 assets starting Nov. 23. The initiative could open a new trading channel and broaden ICE’s reach, though adoption and execution remain to be seen. Article: NYSE Affiliate to Launch 24/7 Tokenized Stock Trading This Month
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Neutral Sentiment: One Seeking Alpha analysis maintained a bullish view after ICE’s 18% rally, but the sharp recent advance may also leave less room for near-term gains. Article: Intercontinental Exchange: Still a Buy After the 18% Rally

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $177.80 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.38. The company’s 50-day moving average is $160.03 and its 200 day moving average is $154.71. The company has a market capitalization of $99.36 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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 business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Argus reduced their target price on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a report on Friday, August 14th. TD Cowen increased their target price on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. Morgan Stanley increased their target price on 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, Bank of America raised their target price on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.