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

Northwestern Mutual Wealth Management Co. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, Holdings Channel reports. The institutional investor purchased 324,570 shares of the financial services provider’s stock, valued at approximately $39,958,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares in the company, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 20,200 shares of company stock valued at $3,035,385. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday, July 6th. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Stock Up 1.7%

Shares of NYSE ICE opened at $161.29 on Friday. The stock has a market cap of $90.55 billion, a PE ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The company has a 50-day moving average of $142.34 and a 200 day moving average of $151.69.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. As a group, sell-side 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.