Intercontinental Exchange Inc. $ICE Stock Holdings Decreased by Narwhal Capital Management

Narwhal Capital Management lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 55,961 shares of the financial services provider’s stock after selling 5,917 shares during the period. Narwhal Capital Management’s holdings in Intercontinental Exchange were worth $8,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $31,000. James T. Borello RIA raised its position in Intercontinental Exchange by 143.0% during the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 123 shares during the last quarter. Hughes Financial Services LLC raised its position in Intercontinental Exchange by 64.4% during the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 76 shares during the last quarter. Finally, Fiduciary Financial Advisors acquired a new position in Intercontinental Exchange during the second quarter worth about $33,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

More 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 Trading Up 1.2%

ICE stock opened at $176.19 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The company 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 business has a fifty day simple moving average of $159.21 and a 200-day simple moving average of $154.66. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94.

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 analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the business earned $1.71 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Insider Activity

In other news, insider Christopher Edmonds sold 5,000 shares of the 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 sale, the insider owned 14,367 shares of the company’s stock, valued at $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 3,777 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $1,806,875. This represents a 26.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,466 shares of company stock valued at $7,493,200 over the last quarter. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Wells Fargo & Company upped their target price on Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a research note on Friday, October 30th. Argus lowered 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

About Intercontinental Exchange

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.