Intercontinental Exchange Inc. $ICE Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 20.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,196 shares of the financial services provider’s stock after selling 5,089 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Intercontinental Exchange were worth $2,486,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Western Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 275.0% during the first quarter. Western Wealth Management LLC now owns 8,952 shares of the financial services provider’s stock worth $1,408,000 after buying an additional 6,565 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at $11,498,000. First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of Intercontinental Exchange by 5.3% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,108 shares of the financial services provider’s stock valued at $4,264,000 after buying an additional 1,360 shares during the period. Parallel Advisors LLC raised its holdings in shares of Intercontinental Exchange by 3.5% in the 1st quarter. Parallel Advisors LLC now owns 7,042 shares of the financial services provider’s stock valued at $1,108,000 after buying an additional 236 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Intercontinental Exchange by 41.3% during the 1st quarter. NewEdge Advisors LLC now owns 39,775 shares of the financial services provider’s stock worth $6,256,000 after acquiring an additional 11,624 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Finally, UBS Group restated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $149.11 on Wednesday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company has a market cap of $83.71 billion, a PE ratio of 21.06, a P/E/G ratio of 1.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day simple moving average of $139.42 and a 200-day simple moving average of $153.33.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the company earned $1.81 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 7.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

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.