SouthState Corp Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

SouthState Corp grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,566 shares of the financial services provider's stock after acquiring an additional 4,140 shares during the period. SouthState Corp's holdings in Intercontinental Exchange were worth $10,211,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE stock traded up $0.24 during mid-day trading on Tuesday, reaching $157.93. 2,812,107 shares of the stock traded hands, compared to its average volume of 2,571,686. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $160.89 and a two-hundred day moving average of $150.44. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The firm has a market capitalization of $90.68 billion, a PE ratio of 37.37, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts' consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent research reports. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a "buy" rating and a $182.00 price target on the stock. Morgan Stanley lifted their target price 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. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.13.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company's stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Judith A. Sprieser sold 1,941 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the sale, the director now directly owns 26,908 shares in the company, valued at $4,323,846.52. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company's stock.

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.