Johnson Financial Group Inc. Buys New Position in Intercontinental Exchange Inc. $ICE

Johnson Financial Group Inc. acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,571 shares of the financial services provider’s stock, valued at approximately $1,055,000.

Several other large investors have also added to or reduced their stakes in ICE. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange in the 4th quarter valued at $30,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were 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 of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,376 shares of company stock worth $2,746,946 over the last three months. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 0.6%

Shares of NYSE:ICE opened at $157.04 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $141.53 and its 200-day moving average price is $151.73. The stock has a market capitalization of $88.16 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.72.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ICE shares. Morgan Stanley decreased their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Barclays reissued an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Piper Sandler cut their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.