Meiji Yasuda America Inc Invests $3.30 Million in Intercontinental Exchange Inc. $ICE

Meiji Yasuda America Inc bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,379 shares of the financial services provider’s stock, valued at approximately $3,301,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ICE. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. raised its position in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICE shares. UBS Group reaffirmed a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,092 shares of company stock worth $1,860,424. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $138.99 on Friday. The business’s 50-day moving average price is $154.58 and its two-hundred day moving average price is $159.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a market capitalization of $78.60 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal 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.