Mitsubishi UFJ Trust & Banking Corp Buys 409 Shares of Intercontinental Exchange Inc. $ICE

Mitsubishi UFJ Trust & Banking Corp raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,261 shares of the financial services provider’s stock after acquiring an additional 409 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intercontinental Exchange were worth $45,915,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. CWM LLC increased its position in Intercontinental Exchange by 3.7% during the first quarter. CWM LLC now owns 15,962 shares of the financial services provider’s stock worth $2,753,000 after acquiring an additional 563 shares during the period. Bleakley Financial Group LLC increased its position in Intercontinental Exchange by 7.4% during the first quarter. Bleakley Financial Group LLC now owns 10,568 shares of the financial services provider’s stock worth $1,823,000 after acquiring an additional 725 shares during the period. Apollon Wealth Management LLC raised its stake in Intercontinental Exchange by 4.9% in the 1st quarter. Apollon Wealth Management LLC now owns 18,914 shares of the financial services provider’s stock worth $3,263,000 after purchasing an additional 878 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Intercontinental Exchange in the 1st quarter valued at about $455,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,587 shares of company stock valued at $3,989,936. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.00 on Thursday. The stock has a market cap of $87.81 billion, a PE ratio of 29.56, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The business’s 50-day moving average price is $161.05 and its two-hundred day moving average price is $172.89.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. TD Cowen lowered their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. UBS Group reduced their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. dropped their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $194.70.

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.