MUFG Securities EMEA plc Buys 62,599 Shares of Intercontinental Exchange Inc. $ICE

MUFG Securities EMEA plc lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 107.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,599 shares of the financial services provider’s stock after purchasing an additional 62,599 shares during the quarter. Intercontinental Exchange accounts for about 0.0% of MUFG Securities EMEA plc’s holdings, making the stock its 20th largest position. MUFG Securities EMEA plc’s holdings in Intercontinental Exchange were worth $22,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Capital Management LLC grew its position in Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new position in Intercontinental Exchange during the first quarter worth about $349,000. Lecap Asset Management Ltd. purchased a new position in Intercontinental Exchange during the second quarter worth about $1,075,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Intercontinental Exchange by 18.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 103,206 shares of the financial services provider’s stock worth $18,935,000 after buying an additional 16,100 shares in the last quarter. Finally, LPL Financial LLC grew its position in Intercontinental Exchange by 6.0% during the first quarter. LPL Financial LLC now owns 482,151 shares of the financial services provider’s stock worth $83,171,000 after buying an additional 27,443 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICE. Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday. UBS Group cut their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler increased their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

Intercontinental Exchange Price Performance

ICE stock opened at $146.10 on Friday. The firm’s 50-day moving average price is $165.55 and its two-hundred day moving average price is $173.50. The stock has a market capitalization of $83.63 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.11 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 240,162 shares of company stock worth $43,642,652 over the last three months. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.