Northwestern Mutual Wealth Management Co. Sells 19,647 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Northwestern Mutual Wealth Management Co. trimmed its Intercontinental Exchange stake by 5.9% in the fourth quarter, selling 19,647 shares and ending with 313,028 shares valued at about $50.7 million.
• Insider selling continued, with CTO Mayur Kapani and Director Sharon Bowen both selling shares recently; insiders sold 12,001 shares worth $1.85 million over the last three months.
• Intercontinental Exchange beat expectations in its latest quarter, reporting EPS of $2.35 on revenue of $3.67 billion, while analysts still broadly rate the stock a Buy with a consensus price target of $194.60.

Northwestern Mutual Wealth Management Co. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 313,028 shares of the financial services provider's stock after selling 19,647 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.06% of Intercontinental Exchange worth $50,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC raised its position in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp raised its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP raised its position in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after acquiring an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was 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 of the company's stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of the business's 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 completion of the transaction, the director directly owned 15,077 shares of the company's stock, 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 sold 12,001 shares of company stock valued at $1,847,820 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.3%

Shares of Intercontinental Exchange stock opened at $147.85 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The business has a fifty day simple moving average of $157.38 and a 200 day simple moving average of $160.07. The stock has a market cap of $83.61 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Piper Sandler restated an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley boosted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of "Buy" and a consensus price target of $194.60.

Key Stories Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
• Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
• Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
• Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
• Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares

Intercontinental Exchange Company 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.

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