Northwestern Mutual Wealth Management Co. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,570 shares of the financial services provider’s stock after purchasing an additional 3,897 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.06% of Intercontinental Exchange worth $39,958,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in ICE. J. Stern & Co. LLP boosted its holdings in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. State Street Corp increased its stake in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley increased its position in Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after purchasing an additional 158,450 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on ICE. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Piper Sandler reduced their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, UBS Group restated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.17.
Insiders Place Their Bets
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel owned 43,065 shares of the company’s stock, valued at $6,966,625.05. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares in the company, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,141 shares of company stock valued at $3,554,192. Insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Performance
Shares of ICE opened at $159.21 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $146.01 and a 200 day moving average price of $151.40. The company has a market capitalization of $89.38 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $177.00.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. Research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.
Intercontinental Exchange Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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