Intercontinental Exchange Inc. $ICE Stake Raised by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18,712.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,337 shares of the financial services provider’s stock after buying an additional 7,298 shares during the period. Provenance Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $1,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ICE. BlackRock Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at $6,245,085,000. Lombard Odier Asset Management Europe Ltd bought a new position in Intercontinental Exchange in the 1st quarter worth $11,498,000. HF Advisory Group LLC raised its holdings in Intercontinental Exchange by 147.5% in the 3rd quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 9,169 shares in the last quarter. NBT Bank N.A. bought a new position in Intercontinental Exchange in the 3rd quarter worth $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its position in shares of Intercontinental Exchange by 35.5% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock worth $40,817,000 after purchasing an additional 86,897 shares during the period. 89.30% of the stock is 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: Shares reached a fresh all-time high. The record suggests strong investor momentum. Bank of America Securities also maintained its Buy rating, reinforcing a favorable analyst view. ICE reaches a fresh all-time high Bank of America maintains Buy rating
• Positive Sentiment: Gateway Mortgage chose ICE’s servicing platform. Its selection of MSP and integrated servicing solutions adds a customer and may support ICE’s mortgage-technology business and recurring revenue. Gateway Mortgage selects ICE servicing solutions
• Positive Sentiment: ICE is pursuing new derivatives-market opportunities. Its planned exchange using Hyperliquid infrastructure could broaden its reach and create future trading-fee potential, though the opportunity faces regulatory and legal uncertainty. ICE plans a derivatives exchange using Hyperliquid
• Neutral Sentiment: ICE released October trading statistics. The monthly report provides investors with operating data, but the supplied article details no figures to indicate whether activity improved. CFO Warren Gardiner is also scheduled to speak at a November 17 investor conference, offering a potential update but no new guidance yet. ICE reports October statistics ICE CFO to present at investor conference
• Negative Sentiment: A lawsuit could complicate the new futures opportunity. Cboe and Citadel Securities are challenging the CFTC’s approval of stock perpetual futures. If the challenge succeeds, it could delay or constrain the U.S. market ICE hopes to enter. Cboe and Citadel sue over approval of stock perpetual futures

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the transaction, the insider directly owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,309 shares of company stock worth $5,787,841 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Rothschild & Co Redburn increased their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. TD Cowen raised their price objective on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, October 30th. Finally, Argus cut their price objective on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.25.

Intercontinental Exchange Price Performance

ICE opened at $174.91 on Thursday. The stock has a fifty day simple moving average of $158.20 and a two-hundred day simple moving average of $154.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The company has a market cap of $97.75 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.50 and a beta of 0.84. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $176.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 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 analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $1.71 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.