Mitsubishi UFJ Trust & Banking Corp Sells 11,809 Shares of Intercontinental Exchange Inc. $ICE

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,452 shares of the financial services provider’s stock after selling 11,809 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intercontinental Exchange were worth $40,174,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ICE. UniSuper Management Pty Ltd boosted its stake in Intercontinental Exchange by 6.5% during the third quarter. UniSuper Management Pty Ltd now owns 452,922 shares of the financial services provider’s stock valued at $76,308,000 after buying an additional 27,704 shares during the period. Kingdom Financial Group LLC. purchased a new stake in Intercontinental Exchange in the third quarter valued at approximately $385,000. Flagship Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the 3rd quarter worth approximately $118,000. Naples Global Advisors LLC increased its holdings in shares of Intercontinental Exchange by 0.8% in the 3rd quarter. Naples Global Advisors LLC now owns 14,257 shares of the financial services provider’s stock worth $2,402,000 after buying an additional 117 shares during the last quarter. Finally, Atlas Legacy Advisors LLC raised its position in shares of Intercontinental Exchange by 12.3% during the 3rd quarter. Atlas Legacy Advisors LLC now owns 3,583 shares of the financial services provider’s stock valued at $604,000 after buying an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ICE shares. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. UBS Group restated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Buy” and a consensus target price of $193.50.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the sale, the chief financial officer directly owned 20,534 shares in the company, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the transaction, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,068 shares of company stock worth $25,470,702 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $172.94 on Monday. The firm has a 50-day moving average of $161.89 and a 200 day moving average of $167.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $98.61 billion, a P/E ratio of 31.50, a PEG ratio of 2.14 and a beta of 1.03. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange 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.