Assetmark Inc. Boosts Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Assetmark Inc. lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 34.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,849 shares of the financial services provider's stock after buying an additional 6,087 shares during the quarter. Assetmark Inc.'s holdings in Intercontinental Exchange were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Intercontinental Exchange by 2.8% during the fourth 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 buying an additional 327,637 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Northern Trust Corp boosted its position in shares of Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after acquiring an additional 655,247 shares during the last quarter. Independent Franchise Partners LLP boosted its position in shares of Intercontinental Exchange by 20.8% during the fourth quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider's stock worth $918,026,000 after acquiring an additional 1,062,904 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $1.47 during mid-day trading on Wednesday, reaching $186.18. 3,506,659 shares of the stock were exchanged, compared to its average volume of 2,977,617. The business's 50 day moving average is $180.10 and its 200-day moving average is $170.55. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $187.38. The company has a market capitalization of $106.80 billion, a P/E ratio of 38.55, a P/E/G ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 226,913 shares of company stock valued at $40,671,107. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ICE shares. Keefe, Bruyette & Woods raised their target price 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. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Intercontinental Exchange Company 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.