Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,735 shares of the financial services provider's stock after selling 6,717 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Intercontinental Exchange were worth $37,532,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. State Street Corp raised its position in Intercontinental Exchange by 0.8% in the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider's stock worth $4,181,125,000 after buying an additional 194,325 shares during the last quarter. Wellington Management Group LLP raised its position in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Capital World Investors raised its position in Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock worth $1,184,238,000 after buying an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC raised its position in Intercontinental Exchange by 6.9% in the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider's stock worth $956,506,000 after buying an additional 364,227 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on ICE shares. Weiss Ratings cut Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. Royal Bank Of Canada reiterated an "outperform" rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective for the company. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $193.80.
Read Our Latest Stock Analysis on Intercontinental Exchange
Intercontinental Exchange Stock Performance
NYSE:ICE opened at $156.24 on Wednesday. The stock has a 50-day simple moving average of $160.11 and a two-hundred day simple moving average of $160.03. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $88.50 billion, a PE ratio of 27.08, a P/E/G ratio of 1.63 and a beta of 1.03.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. Intercontinental Exchange's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 8.06 EPS for the current year.
Intercontinental Exchange Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange's payout ratio is currently 36.05%.
Insider Transactions at Intercontinental Exchange
In other news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president directly owned 165,304 shares of the company's stock, valued at $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the sale, the chief financial officer directly owned 27,679 shares of the company's stock, valued at approximately $4,262,566. This trade represents a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 348,418 shares of company stock valued at $54,196,631. Company insiders own 0.84% of the company's stock.
Intercontinental Exchange Company Profile
(
Free Report)
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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