The Manufacturers Life Insurance Company Purchases 12,939 Shares of Intercontinental Exchange Inc. $ICE

The Manufacturers Life Insurance Company increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 713,468 shares of the financial services provider’s stock after purchasing an additional 12,939 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.13% of Intercontinental Exchange worth $112,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after buying an additional 60 shares during the period. Mission Wealth Management LP boosted its holdings in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after buying an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,425 shares of company stock valued at $2,046,324. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $153.02 on Wednesday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The firm’s 50-day moving average is $139.33 and its 200 day moving average is $153.81. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ICE. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. TD Cowen dropped their price objective 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. The Goldman Sachs Group cut their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Barclays lowered their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

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.