Mitsubishi UFJ Asset Management Co. Ltd. Purchases 148,923 Shares of Intercontinental Exchange Inc. $ICE

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,967,071 shares of the financial services provider’s stock after buying an additional 148,923 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Intercontinental Exchange were worth $836,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Optivise Advisory Services LLC boosted its position in shares of Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 54 shares during the last quarter. ICONIQ Capital LLC raised its position in Intercontinental Exchange by 2.2% in the 2nd 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 during the period. SBI Securities Co. Ltd. lifted its stake in Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 58 shares during the last quarter. Ledyard National Bank increased its holdings in shares of Intercontinental Exchange by 4.3% in the second quarter. Ledyard National Bank now owns 1,512 shares of the financial services provider’s stock worth $277,000 after buying an additional 62 shares during the period. Finally, Elyxium Wealth LLC lifted its position in Intercontinental Exchange by 1.2% in the second quarter. Elyxium Wealth LLC now owns 5,087 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 3.4%

Shares of NYSE ICE opened at $160.71 on Thursday. The business’s 50 day moving average price is $164.33 and its 200-day moving average price is $163.73. The company has a market cap of $91.26 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the sale, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. This represents a 7.20% 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, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,492 shares of company stock valued at $55,139,102 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research analyst reports. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. UBS Group reiterated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $195.40.

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.