Mirae Asset Global Investments Co. Ltd. Has $16.31 Million Stake in Intercontinental Exchange Inc. $ICE

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.8% during the second quarter, HoldingsChannel reports. The fund owned 132,450 shares of the financial services provider’s stock after buying an additional 12,951 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Intercontinental Exchange were worth $16,306,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. J. Stern & Co. LLP increased its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the period. State Street Corp raised its holdings in Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Morgan Stanley boosted its position in Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after buying an additional 158,450 shares during the period. Finally, Norges Bank acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $1,418,228,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,454 shares of company stock valued at $2,469,349 over the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Up 2.7%

Intercontinental Exchange stock opened at $155.34 on Friday. 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 Inc. has a 52-week low of $121.79 and a 52-week high of $183.13. The firm has a 50 day moving average price of $140.32 and a two-hundred day moving average price of $152.25. The firm has a market cap of $87.21 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm posted $1.81 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research report on Monday, July 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Morgan Stanley reduced 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 note on Friday, July 10th. UBS Group restated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange 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.