Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 5,806,751 Intercontinental Exchange Inc. $ICE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,806,751 shares of the financial services provider’s stock, valued at approximately $714,869,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $25,000. Brooklands Fund Management Ltd purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $30,000. Finally, Clearstead Trust LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 20,725 shares of company stock valued at $3,115,124. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.55 on Monday. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $182.86. The company has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.52 and a beta of 0.92. The stock has a fifty day moving average of $140.59 and a two-hundred day moving average of $152.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 earnings per share. On average, analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Barclays reissued an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Finally, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Company Profile

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.