Massachusetts Financial Services Co. MA Buys 588,612 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Massachusetts Financial Services Co. MA raised its stake in Intercontinental Exchange Inc (NYSE:ICE) by 19.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,574,900 shares of the financial services provider’s stock after purchasing an additional 588,612 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Intercontinental Exchange were worth $329,855,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position in shares of Intercontinental Exchange by 3.1% in the third quarter. Quadrant Capital Group LLC now owns 3,627 shares of the financial services provider’s stock valued at $325,000 after buying an additional 110 shares during the last quarter. Brandywine Oak Private Wealth LLC lifted its position in shares of Intercontinental Exchange by 3.6% in the second quarter. Brandywine Oak Private Wealth LLC now owns 3,247 shares of the financial services provider’s stock valued at $279,000 after buying an additional 113 shares during the last quarter. HCR Wealth Advisors lifted its position in shares of Intercontinental Exchange by 0.8% in the second quarter. HCR Wealth Advisors now owns 14,559 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 113 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Intercontinental Exchange by 0.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,857 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 114 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Intercontinental Exchange by 41.8% in the second quarter. Sandy Spring Bank now owns 404 shares of the financial services provider’s stock valued at $35,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

A number of analysts have recently issued reports on the company. Wells Fargo & Co reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research report on Thursday, October 31st. Barclays set a $104.00 price objective on Intercontinental Exchange and gave the company a “buy” rating in a research report on Sunday, November 3rd. Oppenheimer began coverage on Intercontinental Exchange in a research report on Monday, September 16th. They issued an “outperform” rating and a $100.00 price objective for the company. UBS Group set a $108.00 price target on Intercontinental Exchange and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, FIX began coverage on Intercontinental Exchange in a report on Monday, September 16th. They set an “outperform” rating and a $100.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $95.46.

NYSE:ICE traded up $1.17 during mid-day trading on Wednesday, hitting $92.57. 69,783 shares of the stock were exchanged, compared to its average volume of 2,427,411. The stock has a market capitalization of $50.38 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.80 and a beta of 0.49. The firm’s 50-day simple moving average is $92.75 and its 200 day simple moving average is $88.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc has a fifty-two week low of $69.69 and a fifty-two week high of $95.56.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Intercontinental Exchange had a return on equity of 12.79% and a net margin of 31.97%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. On average, analysts predict that Intercontinental Exchange Inc will post 3.9 EPS for the current fiscal year.

In other Intercontinental Exchange news, CAO James W. Namkung sold 3,167 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.55, for a total value of $302,606.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 40,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $92.41, for a total value of $3,696,400.00. The disclosure for this sale can be found here. Insiders sold a total of 123,040 shares of company stock valued at $11,459,809 over the last ninety days. Insiders own 1.50% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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

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