Johnson Financial Group Inc. Raises Stock Position in Intercontinental Exchange Inc. $ICE

Johnson Financial Group Inc. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 89.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,610 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the period. Johnson Financial Group Inc.’s holdings in Intercontinental Exchange were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the period. J. Stern & Co. LLP raised its position in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares in the last quarter. State Street Corp boosted its stake in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley boosted its stake in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the period. Finally, Norges Bank purchased a new position in Intercontinental Exchange during the fourth quarter worth about $1,418,228,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ICE. UBS Group decreased their target price on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research report on Monday, July 6th. Finally, TD Cowen lowered their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Stock Down 2.2%

Shares of NYSE:ICE opened at $138.50 on Wednesday. The firm has a market capitalization of $78.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The firm has a fifty day moving average of $140.17 and a 200 day moving average of $154.40.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating 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 business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by insiders.

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.