Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Reduces Position in Intercontinental Exchange Inc. (NYSE:ICE)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,408 shares of the financial services provider’s stock after selling 10,092 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Intercontinental Exchange were worth $5,630,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ICE. Guardian Life Insurance Co. of America boosted its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock worth $138,000 after buying an additional 16 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in shares of Intercontinental Exchange by 0.3% in the first quarter. Emerald Advisers Inc. PA now owns 12,720 shares of the financial services provider’s stock worth $762,000 after buying an additional 39 shares during the last quarter. FCG Advisors LLC boosted its stake in shares of Intercontinental Exchange by 1.1% in the first quarter. FCG Advisors LLC now owns 6,125 shares of the financial services provider’s stock worth $367,000 after buying an additional 65 shares during the last quarter. Aspen Investment Management Inc boosted its stake in shares of Intercontinental Exchange by 0.8% in the first quarter. Aspen Investment Management Inc now owns 8,770 shares of the financial services provider’s stock worth $525,000 after buying an additional 70 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Intercontinental Exchange by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 36,700 shares of the financial services provider’s stock worth $2,419,000 after buying an additional 100 shares during the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Inc. (NYSE:ICE) opened at 65.16 on Friday. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 24.14 and a beta of 0.71. The firm’s 50-day moving average is $65.78 and its 200 day moving average is $61.42. Intercontinental Exchange Inc. has a 12 month low of $52.27 and a 12 month high of $67.48.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. Intercontinental Exchange’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.

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A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Finally, Citigroup Inc. assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $67.49.

In other news, Director Jean Marc Forneri sold 6,000 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $58.27, for a total value of $349,620.00. Following the transaction, the director now owns 47,350 shares of the company’s stock, valued at approximately $2,759,084.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total transaction of $836,625.00. Following the completion of the transaction, the insider now directly owns 382,471 shares in the company, valued at approximately $25,598,784.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,389 shares of company stock worth $10,279,500. 1.50% of the stock is owned by corporate insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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