Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Mirae Asset Global Investments increased its stake in Intercontinental Exchange (ICE) by 23.4% during Q2, owning a total of 90,581 shares valued at approximately $16.6 million.
• Several institutional investors showed significant activity regarding ICE shares, with Tsfg LLC increasing its stake by 187.3% and Rakuten Securities Inc. up by 595.8% in Q1.
• ICE’s stock has seen analyst upgrades, with JPMorgan Chase raising its price target from $195 to $203, contributing to a consensus rating of “Moderate Buy” among analysts.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 23.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,581 shares of the financial services provider's stock after acquiring an additional 17,176 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Intercontinental Exchange were worth $16,619,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ICE. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. grew its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management grew its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange during the first quarter valued at $30,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares of the company's stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,874 shares of company stock worth $42,187,714 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ICE. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus target price of $198.20.

Intercontinental Exchange Price Performance

ICE stock opened at $162.47 on Friday. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $176.53 and a 200 day moving average price of $174.68. The stock has a market cap of $93.00 billion, a PE ratio of 31.18, a P/E/G ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS 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 firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the company earned $1.52 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.

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