Intercontinental Exchange Inc. $ICE Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 33.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,921 shares of the financial services provider’s stock after selling 3,906 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Intercontinental Exchange were worth $1,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ICE. Brighton Jones LLC raised its position in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC raised its position in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after buying an additional 6,373 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 1.7%

Shares of ICE opened at $161.00 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The firm has a 50-day moving average price of $159.84 and a 200 day moving average price of $160.19. The firm has a market capitalization of $91.20 billion, a P/E ratio of 27.90, a P/E/G ratio of 1.72 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.

Analysts Set New Price Targets

ICE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $193.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,861 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the transaction, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,055,992.38. This trade represents a 19.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 348,418 shares of company stock valued at $54,196,631 over the last quarter. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Company 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.