Mitsubishi UFJ Asset Management Co. Ltd. Sells 102,576 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,752,014 shares of the financial services provider’s stock after selling 102,576 shares during the period. Intercontinental Exchange comprises approximately 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 22nd largest position. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.83% of Intercontinental Exchange worth $712,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the fourth quarter worth $25,000. FSA Wealth Management LLC purchased a new position in Intercontinental Exchange in the third quarter worth about $31,000. Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $45,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 over the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICE. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. UBS Group boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Barclays increased their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

Shares of ICE opened at $175.69 on Thursday. The company has a market cap of $100.95 billion, a P/E ratio of 36.76, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $176.82. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average price is $166.08 and its 200 day moving average price is $160.37.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

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.