Mitsubishi UFJ Asset Management UK Ltd. Boosts Stake in Intercontinental Exchange Inc (ICE)

Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 50,000 shares of the financial services provider’s stock after purchasing an additional 2,150 shares during the quarter. Intercontinental Exchange accounts for about 2.5% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 12th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Intercontinental Exchange were worth $3,528,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Laurion Capital Management LP boosted its position in Intercontinental Exchange by 100.0% in the second quarter. Laurion Capital Management LP now owns 15,800 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 7,900 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Intercontinental Exchange by 7.5% in the second quarter. UBS Asset Management Americas Inc. now owns 1,611,267 shares of the financial services provider’s stock valued at $106,215,000 after buying an additional 112,117 shares in the last quarter. ETRADE Capital Management LLC boosted its position in Intercontinental Exchange by 8.1% in the second quarter. ETRADE Capital Management LLC now owns 30,924 shares of the financial services provider’s stock valued at $2,039,000 after buying an additional 2,323 shares in the last quarter. MML Investors Services LLC boosted its position in Intercontinental Exchange by 39.8% in the second quarter. MML Investors Services LLC now owns 12,234 shares of the financial services provider’s stock valued at $806,000 after buying an additional 3,483 shares in the last quarter. Finally, FIL Ltd boosted its position in Intercontinental Exchange by 2.4% in the second quarter. FIL Ltd now owns 3,005,482 shares of the financial services provider’s stock valued at $198,122,000 after buying an additional 70,436 shares in the last quarter. Institutional investors and hedge funds own 90.08% of the company’s stock.

A number of equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Argus boosted their target price on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. UBS Group boosted their target price on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Citigroup boosted their target price on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $75.40.

Shares of Intercontinental Exchange Inc (ICE) traded up $0.47 on Friday, hitting $75.27. 2,133,300 shares of the stock traded hands, compared to its average volume of 2,471,758. The company has a market capitalization of $44,220.00, a price-to-earnings ratio of 27.37, a PEG ratio of 2.61 and a beta of 0.70. Intercontinental Exchange Inc has a 52 week low of $56.69 and a 52 week high of $75.59. The company has a debt-to-equity ratio of 0.30, 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, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. Intercontinental Exchange’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. sell-side analysts expect that Intercontinental Exchange Inc will post 2.94 EPS for the current year.

Intercontinental Exchange announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, CFO Scott A. Hill sold 14,772 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $75.00, for a total transaction of $1,107,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott A. Hill sold 7,526 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $75.00, for a total transaction of $564,450.00. Following the sale, the chief financial officer now owns 202,371 shares in the company, valued at $15,177,825. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,368 shares of company stock worth $4,357,199. 1.50% of the stock is currently owned by corporate insiders.

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About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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