Intercontinental Exchange Inc. $ICE Shares Acquired by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc more than doubled its stake in Intercontinental Exchange, increasing holdings by 113.3% to 23,375 shares worth about $3.79 million in the fourth quarter.
• Intercontinental Exchange reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion, up 20.4% year over year.
• Insider selling was notable, with CTO Mayur Kapani and General Counsel Andrew J. Surdykowski both reducing their stakes, while analysts still maintain an overall Buy consensus and average price target of $194.60.

MUFG Securities EMEA plc lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 113.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,375 shares of the financial services provider's stock after purchasing an additional 12,418 shares during the period. MUFG Securities EMEA plc's holdings in Intercontinental Exchange were worth $3,786,000 as of its most recent SEC filing.

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

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company's stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 12,001 shares of company stock worth $1,847,820. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $145.23 on Tuesday. 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 Inc. has a 1 year low of $143.01 and a 1 year high of $189.35. The company 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. The company has a fifty day moving average of $157.12 and a two-hundred day moving average of $160.10.

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

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Barclays restated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. Finally, Piper Sandler reiterated an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $194.60.

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.

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