Mirae Asset Global Investments Co. Ltd. Sells 40,325 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Mirae Asset Global Investments Co. Ltd. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,084 shares of the financial services provider's stock after selling 40,325 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Intercontinental Exchange were worth $12,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. RB Capital Management LLC raised its stake in shares of Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider's stock worth $534,000 after buying an additional 126 shares during the last quarter. United Bank raised its stake in shares of Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider's stock worth $2,112,000 after buying an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider's stock worth $245,000 after buying an additional 220 shares during the last quarter. Sei Investments Co. raised its stake in shares of Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider's stock worth $27,077,000 after buying an additional 49,081 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $1,679,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group boosted their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a "buy" rating in a report on Monday, February 12th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $152.00 price objective on shares of Intercontinental Exchange in a report on Thursday, April 4th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $147.08.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company's stock, valued at $1,640,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares of the company's stock, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.0 %

ICE traded up $0.02 during trading hours on Friday, hitting $133.50. 3,255,755 shares of the company's stock were exchanged, compared to its average volume of 2,404,022. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The stock's 50-day moving average is $136.22 and its two-hundred day moving average is $123.67. The stock has a market cap of $76.44 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm's revenue was up 24.5% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This is a boost from Intercontinental Exchange's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a yield of 1.35%. Intercontinental Exchange's dividend payout ratio is presently 42.86%.

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.