Mirae Asset Global Investments Co. Ltd. Raises Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,405 shares of the financial services provider's stock after acquiring an additional 22,878 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Intercontinental Exchange were worth $12,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $1,196,258,000. Royal Bank of Canada boosted its holdings in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock valued at $677,465,000 after buying an additional 3,678,384 shares during the period. Raymond James Financial Inc. purchased a new position in Intercontinental Exchange in the fourth quarter valued at $406,728,000. Finally, GAMMA Investing LLC increased its holdings in Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after buying an additional 2,255,507 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 68,315 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.25, for a total value of $12,245,463.75. Following the transaction, the chief executive officer now owns 1,162,908 shares of the company's stock, valued at $208,451,259. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares of the company's stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America reduced their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average target price of $188.46.

Intercontinental Exchange Stock Up 0.5%

Shares of ICE opened at $181.74 on Monday. The stock has a 50 day moving average price of $174.95 and a 200 day moving average price of $165.68. Intercontinental Exchange Inc. has a one year low of $136.25 and a one year high of $182.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $104.25 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 1.96 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Intercontinental Exchange Company 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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