Massachusetts Financial Services Co. MA Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Massachusetts Financial Services Co. MA lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 33.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,921 shares of the financial services provider’s stock after selling 3,906 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Intercontinental Exchange were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares during the period. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Capital World Investors boosted its stake in shares of Intercontinental Exchange by 15.2% in the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the period. Sands Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 6.9% in the third quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after purchasing an additional 364,227 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Intercontinental Exchange by 3.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,967,071 shares of the financial services provider’s stock valued at $836,852,000 after purchasing an additional 148,923 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $193.00 to $198.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $193.80.

Read Our Latest Stock Analysis on Intercontinental Exchange

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 3,865 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the sale, the chief financial officer directly owned 27,679 shares in the company, valued at approximately $4,262,566. The trade was a 8.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock valued at $54,196,631 over the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 1.7%

Shares of NYSE:ICE opened at $161.00 on Friday. The firm’s 50 day moving average price is $159.84 and its 200 day moving average price is $160.19. The stock has a market cap of $91.20 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Intercontinental Exchange Profile

(Free Report)

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.

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