Mitsubishi UFJ Trust & Banking Corp Sells 11,809 Shares of Intercontinental Exchange Inc. $ICE

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.7% during the third quarter, Holdings Channel reports. The firm owned 238,452 shares of the financial services provider’s stock after selling 11,809 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intercontinental Exchange were worth $40,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $28,000. Westside Investment Management Inc. bought a new position in Intercontinental Exchange in the second quarter worth approximately $29,000. Hilltop National Bank bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $31,000. Knuff & Co LLC raised its holdings in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the period. Finally, Private Wealth Management Group LLC grew its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ICE shares. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Barclays set a $182.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $193.50.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer directly owned 1,801,705 shares in the company, valued at $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 166,068 shares of company stock worth $25,470,702. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $172.94 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $98.61 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. The stock’s fifty day moving average is $161.89 and its two-hundred day moving average is $167.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $1.55 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.