Intercontinental Exchange Inc. $ICE Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,096 shares of the financial services provider’s stock after purchasing an additional 11,645 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Intercontinental Exchange were worth $16,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Dynasty Wealth Management LLC acquired a new stake in Intercontinental Exchange during the third quarter worth $897,000. Rockland Trust Co. lifted its stake in shares of Intercontinental Exchange by 19.7% in the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after purchasing an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 3,261 shares during the last quarter. Eastern Bank grew its holdings in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares during the period. Finally, M&G PLC increased its position in shares of Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after purchasing an additional 16,635 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the transaction, the insider owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the transaction, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $161.00 on Friday. The stock’s 50-day moving average price is $159.84 and its 200 day moving average price is $160.13. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market cap of $91.20 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.72 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $1.52 EPS. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

Analyst Upgrades and Downgrades

ICE has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Barclays increased their target price on shares of Intercontinental Exchange from $193.00 to $198.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler restated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $193.80.

About Intercontinental Exchange

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.