M&G Plc Makes New $10.72 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

M&G Plc bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,583 shares of the financial services provider’s stock, valued at approximately $10,720,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after buying an additional 218,516 shares during the last quarter. Legal & General Group Plc increased its position in shares of Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after acquiring an additional 191,763 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after acquiring an additional 284,664 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Intercontinental Exchange by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock worth $384,122,000 after acquiring an additional 19,127 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

ICE stock opened at $156.11 on Friday. The business’s 50-day moving average price is $161.71 and its 200-day moving average price is $148.85. The stock has a market cap of $89.64 billion, a P/E ratio of 36.99, a PEG ratio of 2.57 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $107.76 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.09 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s payout ratio is presently 42.65%.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ICE shares. Barclays decreased their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Finally, StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $173.93.

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.