Mirae Asset Global Investments Co. Ltd. Acquires 17,176 Shares of Intercontinental Exchange Inc. $ICE

Mirae Asset Global Investments Co. Ltd. grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 23.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 90,581 shares of the financial services provider’s stock after buying an additional 17,176 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Intercontinental Exchange were worth $16,619,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tsfg LLC raised its holdings in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $31,000. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $198.20.

Intercontinental Exchange Stock Up 0.9%

NYSE:ICE opened at $162.47 on Friday. The company has a market cap of $93.00 billion, a PE ratio of 31.18, a P/E/G ratio of 1.98 and a beta of 1.08. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $176.53 and its two-hundred day moving average is $174.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,874 shares of company stock worth $42,187,714 in the last 90 days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Company 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.