SouthState Corp Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

SouthState Corp grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 63,566 shares of the financial services provider’s stock after acquiring an additional 4,140 shares during the quarter. SouthState Corp’s holdings in Intercontinental Exchange were worth $10,211,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ICE. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at about $25,000. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $25,000. Wolff Wiese Magana LLC increased its holdings in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Up 1.4 %

ICE stock opened at $157.69 on Tuesday. The company has a market capitalization of $90.54 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The business’s 50 day moving average price is $160.89 and its two-hundred day moving average price is $150.44. Intercontinental Exchange, Inc. has a fifty-two week low of $110.64 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $1,202,259 in the last three months. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.