Massachusetts Financial Services Co. MA Takes $455,000 Position in Intercontinental Exchange Inc. (NYSE:ICE)

Massachusetts Financial Services Co. MA bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,636 shares of the financial services provider's stock, valued at approximately $455,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after buying an additional 538,670 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after purchasing an additional 327,637 shares during the period. Royal Bank of Canada raised its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new position in Intercontinental Exchange in the 4th quarter worth $1,196,258,000. Finally, Northern Trust Corp increased its position in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after acquiring an additional 655,247 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Up 1.5%

Shares of Intercontinental Exchange stock traded up $2.72 on Thursday, hitting $183.72. 1,560,253 shares of the company's stock traded hands, compared to its average volume of 2,970,042. The stock has a market cap of $105.38 billion, a P/E ratio of 38.04, a PEG ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $179.46 and its 200 day moving average is $169.32. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $184.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays increased their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $194.42.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,119 shares of company stock worth $40,524,217. 1.00% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.