Massmutual Trust Co. FSB ADV Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Massmutual Trust Co. FSB ADV lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,869 shares of the financial services provider’s stock after selling 2,263 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Intercontinental Exchange were worth $4,363,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Trust Point Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $390,000. Ballentine Partners LLC boosted its stake in shares of Intercontinental Exchange by 15.6% during the 4th quarter. Ballentine Partners LLC now owns 4,436 shares of the financial services provider’s stock valued at $570,000 after buying an additional 599 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Intercontinental Exchange by 7.1% during the 4th quarter. Private Trust Co. NA now owns 2,886 shares of the financial services provider’s stock valued at $371,000 after buying an additional 191 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $6,334,000. Finally, Boit C F David bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $250,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Finally, Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

Intercontinental Exchange Stock Performance

ICE stock traded down $1.07 on Monday, reaching $148.78. The company’s stock had a trading volume of 4,003,312 shares, compared to its average volume of 2,457,174. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $153.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 1.01. The company has a market capitalization of $85.34 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The firm has a fifty day moving average of $141.10 and a two-hundred day moving average of $136.54.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $1.43 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.45 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at approximately $3,882,209.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange 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.