Massmutual Trust Co. FSB ADV Has $4.36 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Massmutual Trust Co. FSB ADV cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,869 shares of the financial services provider’s stock after selling 2,263 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Intercontinental Exchange were worth $4,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Intercontinental Exchange by 8.5% during the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after buying an additional 1,991 shares during the period. Point72 Europe London LLP lifted its stake in Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares in the last quarter. Perpetual Ltd increased its position in shares of Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after acquiring an additional 6,272 shares in the last quarter. Finally, LGT Group Foundation raised its holdings in shares of Intercontinental Exchange by 36.0% during the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after acquiring an additional 94,039 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities restated a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating and lowered their target price for the company from $155.00 to $152.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $153.86.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the transaction, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The disclosure for this sale can be found here. Insiders sold a total of 64,992 shares of company stock worth $9,197,801 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $1.07 on Monday, hitting $148.78. The stock had a trading volume of 4,003,312 shares, compared to its average volume of 2,457,174. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $153.28. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market cap of $85.34 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The business’s 50 day moving average is $141.10 and its two-hundred day moving average is $136.54.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, September 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

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.