The Manufacturers Life Insurance Company Raises Stock Holdings in Intercontinental Exchange Inc. $ICE

The Manufacturers Life Insurance Company raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 713,468 shares of the financial services provider’s stock after acquiring an additional 12,939 shares during the period. The Manufacturers Life Insurance Company’s holdings in Intercontinental Exchange were worth $112,214,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ICE. Brighton Jones LLC grew its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC raised its stake in Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange 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. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on ICE shares. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. TD Cowen cut their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Finally, Barclays reduced their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Trading Up 2.9%

Shares of ICE 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 has a fifty day moving average price of $139.33 and a 200-day moving average price of $153.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company 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.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $1.72 EPS. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current year.

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.