Northwestern Mutual Wealth Management Co. Has $110.95 Million Holdings in Intercontinental Exchange Inc. $ICE

Northwestern Mutual Wealth Management Co. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 105.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,020 shares of the financial services provider’s stock after buying an additional 352,345 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Intercontinental Exchange were worth $110,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynasty Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth approximately $897,000. Rockland Trust Co. lifted its position in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares in the last quarter. M&G PLC raised its stake in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after buying an additional 16,635 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its stake in shares of Intercontinental Exchange by 15.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock worth $5,308,000 after buying an additional 4,333 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Intercontinental Exchange by 2.5% during the third quarter. National Pension Service now owns 1,389,561 shares of the financial services provider’s stock worth $234,113,000 after buying an additional 34,358 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. The trade was a 19.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 330,835 shares of company stock valued at $51,275,650. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $154.48 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $87.36 billion, a PE ratio of 22.49, a PEG ratio of 1.43 and a beta of 0.96. The company has a 50 day moving average price of $159.26 and a two-hundred day moving average price of $159.94.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ICE. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Barclays reissued an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $194.10.

Intercontinental Exchange Company 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.