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

The Manufacturers Life Insurance Company reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 752,262 shares of the financial services provider’s stock after selling 3,253 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Intercontinental Exchange worth $120,843,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Silvercrest Asset Management Group LLC raised its stake in Intercontinental Exchange by 7.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock worth $2,232,000 after acquiring an additional 1,180 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Intercontinental Exchange by 61.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 3,062 shares in the last quarter. Tidal Investments LLC raised its stake in Intercontinental Exchange by 13.5% during the 1st quarter. Tidal Investments LLC now owns 30,820 shares of the financial services provider’s stock worth $4,235,000 after acquiring an additional 3,655 shares in the last quarter. Plato Investment Management Ltd raised its stake in Intercontinental Exchange by 2,134.9% during the 1st quarter. Plato Investment Management Ltd now owns 15,175 shares of the financial services provider’s stock worth $2,086,000 after acquiring an additional 14,496 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Intercontinental Exchange during the 1st quarter worth $233,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,868 shares of company stock valued at $622,079. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent research reports. Bank of America lifted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research note on Monday, October 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Barclays dropped their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Up 0.5 %

ICE stock opened at $160.49 on Wednesday. The company has a market cap of $92.15 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.64 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The company’s 50-day moving average price is $160.55 and its 200 day moving average price is $151.52. The company has a current ratio of 1.00, a quick 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 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.