Assetmark Inc. Has $16.37 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Assetmark Inc. raised its stake in Intercontinental Exchange by 27.8% in Q4 to 101,090 shares, valued at approximately $16.37 million.
• Company insiders have been net sellers, offloading 348,418 shares worth about $54.2 million over the past 90 days, including recent sales by the president and CFO.
• Analysts give ICE an overall "Buy" rating with an average price target of $193.80 versus a recent share price near $163.53, and the company recently beat quarterly EPS and revenue estimates.

Assetmark Inc. lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,090 shares of the financial services provider's stock after buying an additional 22,001 shares during the quarter. Assetmark Inc.'s holdings in Intercontinental Exchange were worth $16,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp increased its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after buying an additional 60 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after buying an additional 63 shares in the last quarter. Cascade Investment Advisors Inc. grew its position in shares of Intercontinental Exchange by 0.5% during the third quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider's stock valued at $2,319,000 after purchasing an additional 65 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its position in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the completion of the transaction, the president owned 165,304 shares of the company's stock, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the transaction, the chief financial officer directly owned 27,679 shares of the company's stock, valued at $4,262,566. The trade was a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 348,418 shares of company stock worth $54,196,631. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler reissued an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $193.80.

Intercontinental Exchange Stock Down 0.9%

Shares of NYSE ICE opened at $163.53 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The stock has a market cap of $92.63 billion, a PE ratio of 28.34, a P/E/G ratio of 1.75 and a beta of 1.03. 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 company has a 50-day moving average of $160.00 and a 200 day moving average of $160.24.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the prior year, the company earned $1.52 EPS. Intercontinental Exchange's revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange's dividend payout ratio is 36.05%.

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.

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