Mitsubishi UFJ Trust & Banking Corp Decreases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.5% during the fourth quarter, Holdings Channel reports. The fund owned 255,205 shares of the financial services provider’s stock after selling 9,161 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intercontinental Exchange were worth $38,028,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Prestige Wealth Management Group LLC increased its stake in shares of Intercontinental Exchange by 6.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,414 shares of the financial services provider’s stock worth $211,000 after buying an additional 85 shares during the period. M.D. Sass LLC grew its holdings in Intercontinental Exchange by 30.1% during the 4th quarter. M.D. Sass LLC now owns 403,415 shares of the financial services provider’s stock worth $60,113,000 after acquiring an additional 93,227 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Intercontinental Exchange by 17.4% in the 4th quarter. Zions Bancorporation N.A. now owns 9,539 shares of the financial services provider’s stock valued at $1,421,000 after purchasing an additional 1,417 shares in the last quarter. TIAA Trust National Association lifted its position in shares of Intercontinental Exchange by 1.5% during the 4th quarter. TIAA Trust National Association now owns 11,689 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 170 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 31.5% during the 4th quarter. Modern Wealth Management LLC now owns 1,839 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 441 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $175.69 on Thursday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $176.82. The stock has a market capitalization of $100.95 billion, a P/E ratio of 36.76, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day moving average is $166.08 and its two-hundred day moving average is $160.37.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. This trade represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by company insiders.

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.