Manning & Napier Advisors LLC Has $57.16 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Advisors LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 383,564 shares of the financial services provider’s stock after selling 16,123 shares during the period. Manning & Napier Advisors LLC owned approximately 0.07% of Intercontinental Exchange worth $57,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its stake in shares of Intercontinental Exchange by 8.8% during the second quarter. Creative Planning now owns 54,262 shares of the financial services provider’s stock worth $7,428,000 after buying an additional 4,393 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Intercontinental Exchange by 9.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,665 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 559 shares during the period. Advisory Alpha LLC boosted its position in shares of Intercontinental Exchange by 35.4% during the 2nd quarter. Advisory Alpha LLC now owns 2,042 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 534 shares in the last quarter. SPC Financial Inc. raised its position in shares of Intercontinental Exchange by 2.2% during the second quarter. SPC Financial Inc. now owns 26,234 shares of the financial services provider’s stock worth $3,591,000 after purchasing an additional 572 shares during the period. Finally, Cetera Investment Advisers grew its position in Intercontinental Exchange by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock valued at $8,748,000 after purchasing an additional 2,006 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ICE. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Barclays cut their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Price Performance

ICE traded down $0.94 during trading on Wednesday, reaching $157.91. 150,764 shares of the company traded hands, compared to its average volume of 3,148,899. The company has a market cap of $90.67 billion, a P/E ratio of 37.46, a PEG ratio of 2.95 and a beta of 1.10. The firm has a fifty day simple moving average of $153.07 and a 200 day simple moving average of $156.32. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

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.