Johnson Financial Group Inc. Boosts Stock Holdings in Intercontinental Exchange Inc. $ICE

Johnson Financial Group Inc. grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 89.1% during the first quarter, Holdings Channel reports. The institutional investor owned 10,610 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the quarter. Johnson Financial Group Inc.’s holdings in Intercontinental Exchange were worth $1,669,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Florida Financial Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $225,000. AlTi Global Inc. grew its position in Intercontinental Exchange by 0.7% during the 1st quarter. AlTi Global Inc. now owns 16,274 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 114 shares during the last quarter. Meeder Asset Management Inc. grew its position in Intercontinental Exchange by 247.9% during the 1st quarter. Meeder Asset Management Inc. now owns 66,395 shares of the financial services provider’s stock worth $10,443,000 after acquiring an additional 47,310 shares during the last quarter. Meeder Advisory Services Inc. grew its position in Intercontinental Exchange by 8.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 13,942 shares of the financial services provider’s stock worth $2,193,000 after acquiring an additional 1,046 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Intercontinental Exchange by 3.5% in the 1st quarter. Parallel Advisors LLC now owns 7,042 shares of the financial services provider’s stock worth $1,108,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 2.2%

ICE opened at $138.50 on Wednesday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $140.17 and a two-hundred day simple moving average of $154.40. The firm has a market capitalization of $78.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.72 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last three months. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. Barclays lowered their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group decreased their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Piper Sandler decreased their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, UBS Group dropped their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.58.

About Intercontinental Exchange

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.