Intercontinental Exchange Inc. $ICE Stock: Woodley Farra Manion Portfolio Management Inc. Decreases Position

Woodley Farra Manion Portfolio Management Inc. cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 35.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,209 shares of the financial services provider’s stock after selling 155,495 shares during the period. Intercontinental Exchange accounts for 2.2% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 21st largest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Intercontinental Exchange were worth $43,208,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ICE. Montaka Global Pty Ltd grew its holdings in shares of Intercontinental Exchange by 37.5% during the third quarter. Montaka Global Pty Ltd now owns 36,224 shares of the financial services provider’s stock worth $5,507,000 after buying an additional 9,879 shares in the last quarter. Lido Advisors LLC raised its position in shares of Intercontinental Exchange by 7.7% in the third quarter. Lido Advisors LLC now owns 132,557 shares of the financial services provider’s stock valued at $20,153,000 after buying an additional 9,520 shares during the last quarter. 71 West Capital Partners lifted its stake in shares of Intercontinental Exchange by 18.2% in the third quarter. 71 West Capital Partners now owns 4,088 shares of the financial services provider’s stock worth $621,000 after buying an additional 629 shares in the last quarter. Nemes Rush Group LLC lifted its stake in shares of Intercontinental Exchange by 0.4% in the third quarter. Nemes Rush Group LLC now owns 47,956 shares of the financial services provider’s stock worth $7,291,000 after buying an additional 191 shares in the last quarter. Finally, Texas Bank & Trust Co lifted its stake in shares of Intercontinental Exchange by 46.7% in the third quarter. Texas Bank & Trust Co now owns 5,199 shares of the financial services provider’s stock worth $790,000 after buying an additional 1,655 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Raymond James Financial decreased their target price on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 5th. The Goldman Sachs Group raised their target price 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. Finally, TD Cowen boosted their target price on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Intercontinental Exchange Stock Up 1.2%

Shares of ICE opened at $176.19 on Wednesday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $177.94. The company has a market capitalization of $98.47 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.84. The stock has a fifty day simple moving average of $159.21 and a two-hundred day simple moving average of $154.66. The company has a quick ratio of 1.03, a current 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 EPS for the quarter, topping the consensus estimate of $1.97 by $0.05. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Intercontinental Exchange News Roundup

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

Insider Transactions at Intercontinental Exchange

In related news, CAO James Namkung sold 3,777 shares of the firm’s stock in a transaction dated 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 directly owned 10,325 shares in the company, valued at approximately $1,806,875. This trade represents a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 400 shares of Intercontinental Exchange stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $177.90, for a total transaction of $71,160.00. Following the transaction, the president directly owned 156,532 shares in the company, valued at $27,847,042.80. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,466 shares of company stock valued at $7,493,200 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

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.