Conning Inc. Has $5.10 Million Stock Position in Intercontinental Exchange Inc. $ICE

Conning Inc. grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 27,816 shares of the financial services provider’s stock after acquiring an additional 257 shares during the period. Conning Inc.’s holdings in Intercontinental Exchange were worth $5,103,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares during the last quarter. Activest Wealth Management boosted its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC acquired a new position in Intercontinental Exchange during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.1%

ICE opened at $157.51 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The stock’s fifty day simple moving average is $174.01 and its 200 day simple moving average is $174.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $90.16 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Barclays reissued an “overweight” rating and issued a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $197.10.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock worth $43,789,542 in the last quarter. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.