Assetmark Inc. Acquires 54,978 Shares of Intercontinental Exchange Inc. $ICE

Assetmark Inc. lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 228.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 79,089 shares of the financial services provider’s stock after acquiring an additional 54,978 shares during the period. Assetmark Inc.’s holdings in Intercontinental Exchange were worth $13,325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares in the last quarter. Nordea Investment Management AB grew its stake in Intercontinental Exchange by 1.9% during the second quarter. Nordea Investment Management AB now owns 67,555 shares of the financial services provider’s stock worth $12,257,000 after purchasing an additional 1,261 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $201,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $152.31 on Monday. The stock has a 50-day moving average price of $165.24 and a 200-day moving average price of $165.37. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $86.50 billion, a P/E ratio of 26.40, a PEG ratio of 1.59 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the sale, the president directly owned 165,692 shares of the company’s stock, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares in the company, valued at approximately $3,948,787.20. This represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 181,570 shares of company stock worth $28,077,452 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ICE. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $195.40.

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.