Intercontinental Exchange Inc. (NYSE:ICE) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Intercontinental Exchange Inc. by 3.4% during the first quarter, bringing its total holdings to approximately 4,915,290 shares.
• Multiple institutional investors, including Royal Bank of Canada and GAMMA Investing LLC, have significantly increased their stakes, highlighting a growing confidence in Intercontinental Exchange's performance.
• Intercontinental Exchange recently reported a quarterly EPS of $1.81, exceeding estimates, and announced a quarterly dividend of $0.48 to be paid on September 30th.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,915,290 shares of the financial services provider's stock after buying an additional 163,276 shares during the period. Intercontinental Exchange comprises approximately 0.8% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 22nd largest position. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.86% of Intercontinental Exchange worth $847,888,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in shares of Intercontinental Exchange by 13.9% during the 1st quarter. Y.D. More Investments Ltd now owns 812 shares of the financial services provider's stock valued at $140,000 after purchasing an additional 99 shares during the last quarter. VeraBank N.A. boosted its holdings in shares of Intercontinental Exchange by 47.3% during the 1st quarter. VeraBank N.A. now owns 5,604 shares of the financial services provider's stock valued at $967,000 after purchasing an additional 1,800 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Intercontinental Exchange by 11.7% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,651 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 277 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Intercontinental Exchange by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,277,229 shares of the financial services provider's stock valued at $565,322,000 after purchasing an additional 44,320 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $29,437,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the transaction, the chief accounting officer directly owned 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 0.8%

Intercontinental Exchange stock traded down $1.49 during midday trading on Friday, reaching $186.53. The stock had a trading volume of 2,783,624 shares, compared to its average volume of 2,563,729. 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 52-week low of $142.29 and a 52-week high of $189.35. The firm has a market cap of $106.77 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 2.23 and a beta of 1.11. The company has a fifty day moving average of $181.66 and a 200 day moving average of $172.52.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $1.52 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.0%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 36.85%.

Intercontinental Exchange Profile

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.