Intercontinental Exchange Inc (ICE) Stake Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,679,716 shares of the financial services provider’s stock after selling 37,700 shares during the period. Massachusetts Financial Services Co. MA owned 0.64% of Intercontinental Exchange worth $275,575,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Pillar Pacific Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.3% in the 3rd quarter. Pillar Pacific Capital Management LLC now owns 120,692 shares of the financial services provider’s stock valued at $9,039,000 after acquiring an additional 1,493 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Intercontinental Exchange by 135.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 17,500 shares of the financial services provider’s stock valued at $1,311,000 after acquiring an additional 10,075 shares during the period. Cohen Lawrence B increased its position in shares of Intercontinental Exchange by 18.6% in the 3rd quarter. Cohen Lawrence B now owns 20,462 shares of the financial services provider’s stock valued at $1,533,000 after acquiring an additional 3,216 shares during the period. WESPAC Advisors SoCal LLC increased its position in shares of Intercontinental Exchange by 8.1% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 54,400 shares of the financial services provider’s stock valued at $4,074,000 after acquiring an additional 4,075 shares during the period. Finally, Duncker Streett & Co. Inc. acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $642,000. 88.98% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ICE opened at $73.74 on Friday. Intercontinental Exchange Inc has a one year low of $64.98 and a one year high of $78.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.65.



Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.45 earnings per share for the current year.

In other news, Vice Chairman Charles A. Vice sold 35,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $72.59, for a total transaction of $2,540,650.00. Following the sale, the insider now directly owns 419,907 shares of the company’s stock, valued at approximately $30,481,049.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott A. Hill sold 70,659 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $76.56, for a total transaction of $5,409,653.04. Following the sale, the chief financial officer now directly owns 231,782 shares in the company, valued at $17,745,229.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,819 shares of company stock worth $21,703,215. 1.50% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on ICE shares. FIX started coverage on Intercontinental Exchange in a research report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 target price on the stock. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Rosenblatt Securities assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $91.00 price target on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. Finally, Berenberg Bank set a $92.00 price target on shares of Intercontinental Exchange and gave the company a “buy” rating in a report on Thursday, September 20th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.29.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: Stock Split

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

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