Mirae Asset Global Investments Co. Ltd. Has $16.31 Million Stock Position in Intercontinental Exchange Inc. $ICE

Mirae Asset Global Investments Co. Ltd. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 10.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,450 shares of the financial services provider’s stock after purchasing an additional 12,951 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intercontinental Exchange were worth $16,306,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after buying an additional 413,639 shares during the period. J. Stern & Co. LLP boosted its position in Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. State Street Corp grew its stake in shares of Intercontinental Exchange by 3.4% during the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares in the last quarter. Morgan Stanley raised its holdings in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $1,418,228,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,454 shares of company stock valued at $2,469,349. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $155.34 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. The business’s 50 day moving average price is $140.32 and its two-hundred day moving average price is $152.25. The company has a market cap of $87.21 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $183.13.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ICE. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler reduced their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $183.33.

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.