Sun Sep 15 16:08:53 UTC 2024: ## Institutional Investors Show Strong Interest in Intercontinental Exchange (ICE)
**New York, NY (MarketBeat News) –** Intercontinental Exchange, Inc. (NYSE: ICE) saw significant interest from institutional investors in the second quarter of 2024, with Federated Hermes Inc. increasing its stake in the financial services provider by 6.4%. This comes alongside several other institutional investors adjusting their positions in ICE, including Vanguard Group Inc., Wellington Management Group LLP, Capital World Investors, and Parnassus Investments LLC, all boosting their holdings. Norges Bank also acquired a new stake in ICE in the fourth quarter.
The news follows a strong earnings report from ICE, where they exceeded both revenue and earnings per share expectations in the second quarter. The company reported revenue of $2.32 billion, up 22.7% year-over-year.
Despite recent insider selling activity, including sales by General Counsel Andrew J. Surdykowski and CEO Jeffrey C. Sprecher, institutional investors appear bullish on the company’s future. Analysts surveyed by MarketBeat.com give ICE an average “Moderate Buy” rating with an average price target of $154.93.
Several brokerages have also commented on ICE recently, with Deutsche Bank Aktiengesellschaft, Keefe, Bruyette & Woods, Barclays, and The Goldman Sachs Group all issuing positive ratings and price targets.
Intercontinental Exchange, Inc. provides market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities worldwide.
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