SouthState Corp Buys 4,140 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

SouthState Corp boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,566 shares of the financial services provider’s stock after buying an additional 4,140 shares during the quarter. SouthState Corp’s holdings in Intercontinental Exchange were worth $10,211,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quintet Private Bank Europe S.A. lifted its position in shares of Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after buying an additional 63 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after buying an additional 66 shares during the last quarter. American National Bank grew its holdings in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in shares of Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $157.69 on Tuesday. The company has a 50 day moving average of $160.89 and a 200 day moving average of $150.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $90.54 billion, a P/E ratio of 37.37, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $110.64 and a 12 month high of $167.99.

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

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ICE. Morgan Stanley boosted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, Barclays dropped their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange 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.