Northwestern Mutual Wealth Management Co. Has $62.55 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Intercontinental Exchange Inc. by 2.9%, owning approximately 362,584 shares, valued at $62.55 million as of the latest SEC filing.
• Intercontinental Exchange reported $1.81 EPS for its latest quarter, exceeding analyst expectations, with total revenue of $3.26 billion.
• The company announced a quarterly dividend of $0.48 per share, reflecting a dividend yield of 1.1% and a payout ratio of 36.85%.

Northwestern Mutual Wealth Management Co. increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 362,584 shares of the financial services provider's stock after acquiring an additional 10,374 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.06% of Intercontinental Exchange worth $62,546,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. REAP Financial Group LLC boosted its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares during the last quarter. Tsfg LLC boosted its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock traded down $0.41 during trading on Tuesday, hitting $178.73. The company had a trading volume of 2,578,914 shares, compared to its average volume of 3,230,776. The firm has a market capitalization of $102.31 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 2.14 and a beta of 1.11. The business has a 50 day moving average of $182.19 and a 200 day moving average of $174.34. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.52 EPS. Intercontinental Exchange's revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's payout ratio is 36.85%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ICE. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 610 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $179.76, for a total value of $109,653.60. Following the completion of the sale, the director directly owned 3,519 shares of the company's stock, valued at approximately $632,575.44. This represents a 14.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 1,570 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the completion of the sale, the chief financial officer directly owned 22,106 shares of the company's stock, valued at $3,944,815.70. The trade was a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,719 shares of company stock worth $80,546,996 in the last ninety days. Insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.