The Manufacturers Life Insurance Company Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

The Manufacturers Life Insurance Company lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 752,262 shares of the financial services provider’s stock after selling 3,253 shares during the period. The Manufacturers Life Insurance Company’s holdings in Intercontinental Exchange were worth $120,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC raised its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Finally, Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $160.49 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99. The firm has a fifty day moving average of $160.55 and a 200-day moving average of $151.52. The firm has a market capitalization of $92.15 billion, a P/E ratio of 38.03, a PEG ratio of 2.64 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity

In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,868 shares of company stock worth $622,079. 1.10% of the stock is currently owned by company insiders.

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.