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

Conning Inc. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,816 shares of the financial services provider’s stock after buying an additional 257 shares during the period. Conning Inc.’s holdings in Intercontinental Exchange were worth $5,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Intercontinental Exchange by 9.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,167 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 182 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intercontinental Exchange by 42.0% during the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 3,883 shares during the last quarter. Simplicity Wealth LLC raised its holdings in Intercontinental Exchange by 8.6% during the 1st quarter. Simplicity Wealth LLC now owns 1,510 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 119 shares during the last quarter. Finally, CX Institutional raised its holdings in Intercontinental Exchange by 10.4% during the 1st quarter. CX Institutional now owns 4,166 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $157.51 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. 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. The stock has a 50-day moving average of $174.01 and a 200-day moving average of $174.13. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ICE. Barclays reissued an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.10.

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.