44 Wealth Management LLC Buys 4,178 Shares of Intercontinental Exchange Inc. $ICE

44 Wealth Management LLC raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 40.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,608 shares of the financial services provider’s stock after buying an additional 4,178 shares during the period. 44 Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,366,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $25,000. Holos Integrated Wealth LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $28,000. Steph & Co. raised its holdings in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. Dorato Capital Management bought a new position in Intercontinental Exchange during the fourth quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. bought a new position in Intercontinental Exchange during the fourth quarter valued at about $30,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,332 shares of company stock valued at $1,794,334 over the last three months. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ICE. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. UBS Group reiterated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $194.60.

Key Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $153.09 on Monday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a market cap of $86.58 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96. The business’s 50-day simple moving average is $158.33 and its 200 day simple moving average is $160.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.