4,733 Intercontinental Exchange Inc. $ICE Shares Sold by Bank of New Hampshire

Bank of New Hampshire decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 46.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,470 shares of the financial services provider’s stock after selling 4,733 shares during the quarter. Bank of New Hampshire’s holdings in Intercontinental Exchange were worth $832,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ICE. Rockland Trust Co. increased its position in Intercontinental Exchange by 4.2% during the 3rd quarter. Rockland Trust Co. now owns 180,092 shares of the financial services provider’s stock worth $27,379,000 after buying an additional 7,262 shares during the period. CX Institutional lifted its holdings in shares of Intercontinental Exchange by 29.8% during the third quarter. CX Institutional now owns 5,059 shares of the financial services provider’s stock worth $769,000 after buying an additional 1,162 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Intercontinental Exchange by 29.5% during the third quarter. Versant Capital Management Inc now owns 1,178 shares of the financial services provider’s stock worth $179,000 after buying an additional 268 shares in the last quarter. Burkett Financial Services LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at about $41,000. Finally, Hickory Point Bank & Trust boosted its position in shares of Intercontinental Exchange by 44.4% in the third quarter. Hickory Point Bank & Trust now owns 325 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 100 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Edmonds sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the sale, the senior vice president owned 15,863 shares in the company, valued at $2,538,080. This represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,179 shares of company stock worth $6,473,715 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Key Headlines Impacting Intercontinental Exchange

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

• Positive Sentiment: ICE reported a 51% year-over-year increase in September average daily volume, with especially strong interest-rate activity. Higher volatility and trading volumes typically support transaction-based revenue for the exchange operator. Intercontinental Exchange Reports 51% Rise in September Average Daily Volume
• Positive Sentiment: ICE launched new VLCC tanker and container freight futures and options as freight-market average daily volume rose 33% year to date. The contracts expand ICE’s commodity and shipping derivatives franchise and could create additional fee revenue. ICE Launches New VLCC Tanker and Container Freight Contracts
• Positive Sentiment: The launch of London gold futures broadens ICE’s metals offering and gives customers another instrument for hedging and trading precious-metals exposure. Intercontinental Exchange launches trading in gold futures in London
• Positive Sentiment: Rising mortgage rates have pushed adjustable-rate mortgage demand to nearly a four-year high, a potentially favorable trend for ICE Mortgage Technology’s origination and workflow businesses. ICE Mortgage Monitor: ARM Demand Hits Nearly Four-Year High
• Neutral Sentiment: ICE and crypto exchange OKX filed plans for a 24/7 platform for tokenized U.S. stocks, potentially opening a new growth channel. However, the venture remains subject to regulatory approval and execution risks. OKX joint venture files with SEC to launch tokenized trading platform
• Neutral Sentiment: Record French government debt and wider bond yields could increase derivatives activity, potentially benefiting U.S. exchange operators such as ICE, though the revenue impact is uncertain. Record French Debt Could Create Opportunities for U.S. Market Operators
• Negative Sentiment: TD Cowen downgraded ICE to Hold from Buy and lowered its price target to $166 from $177, citing a range-bound stock and limited near-term upside. Wells Fargo also initiated coverage with a Strong Sell rating, adding valuation and sentiment pressure. TD Cowen Downgrades Intercontinental Exchange

Intercontinental Exchange Price Performance

ICE stock traded up $1.35 during midday trading on Tuesday, reaching $153.50. The company had a trading volume of 2,116,906 shares, compared to its average volume of 3,826,106. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. The stock has a 50 day moving average price of $155.73 and a 200-day moving average price of $150.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $86.17 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.45 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange Inc. will post 8.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Wells Fargo & Company initiated coverage on shares of Intercontinental Exchange in a research report on Friday. They issued an “underweight” rating and a $159.00 price target for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $218.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.77.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.