MUFG Securities EMEA plc Increases Position in Intercontinental Exchange Inc. $ICE

MUFG Securities EMEA plc grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 113.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 23,375 shares of the financial services provider’s stock after buying an additional 12,418 shares during the period. MUFG Securities EMEA plc’s holdings in Intercontinental Exchange were worth $3,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. PNC Financial Services Group Inc. raised its holdings in Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares in the last quarter. Rockland Trust Co. raised its holdings in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares in the last quarter. M&G PLC raised its holdings in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after purchasing an additional 16,635 shares in the last quarter. Caprock Group LLC purchased a new position in Intercontinental Exchange during the third quarter worth about $2,788,000. Finally, Dover Advisors LLC purchased a new position in Intercontinental Exchange during the third quarter worth about $710,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Barclays reissued an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $194.60.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 1.8%

ICE stock opened at $145.23 on Tuesday. The company’s 50 day simple moving average is $157.12 and its 200-day simple moving average is $160.10. The firm has a market capitalization of $82.13 billion, a PE ratio of 21.14, a P/E/G ratio of 1.38 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $143.01 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 earnings per share. Equities analysts expect that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.