Massmutual Trust Co. FSB ADV Sells 2,899 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Massmutual Trust Co. FSB ADV cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,970 shares of the financial services provider’s stock after selling 2,899 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Intercontinental Exchange were worth $4,654,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ICE. Scarborough Advisors LLC bought a new position in Intercontinental Exchange during the 4th quarter worth about $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. New Millennium Group LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $25,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 1.5 %

NYSE ICE opened at $163.26 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $157.92 and its 200-day simple moving average is $144.16. The firm has a market cap of $93.64 billion, a PE ratio of 37.44, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,316 shares of company stock worth $9,835,609. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ICE. Royal Bank of Canada began coverage on shares of Intercontinental Exchange in a research report on Friday, September 27th. They set an “outperform” rating and a $200.00 price target for the company. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.13.

Intercontinental Exchange Company Profile

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.