Northwestern Mutual Wealth Management Co. Reduces Stock Position in Intercontinental Exchange Inc. $ICE

Northwestern Mutual Wealth Management Co. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,813 shares of the financial services provider’s stock after selling 46,771 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.06% of Intercontinental Exchange worth $57,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ICE. Advisors Capital Management LLC raised its stake in Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 396 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 1.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after purchasing an additional 13,497 shares during the last quarter. Trillium Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 12.0% during the second quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Intercontinental Exchange by 6.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after purchasing an additional 55,057 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of Intercontinental Exchange by 19.7% in the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after purchasing an additional 48,344 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the topic of a number of research reports. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. UBS Group lowered their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. TD Cowen decreased their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Price Performance

Intercontinental Exchange 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 business has a 50 day simple moving average of $156.50 and a 200-day simple moving average of $171.34. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a market capitalization of $89.81 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the transaction, the chief executive officer directly owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 170,944 shares of company stock valued at $26,338,174. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company 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.