Assetmark Inc. Buys 107,431 Shares of Intercontinental Exchange Inc. $ICE

Assetmark Inc. grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 106.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,521 shares of the financial services provider’s stock after buying an additional 107,431 shares during the quarter. Assetmark Inc.’s holdings in Intercontinental Exchange were worth $32,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the period. J. Stern & Co. LLP boosted its position in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. State Street Corp increased its stake in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Morgan Stanley increased its stake in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $1,418,228,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ICE shares. UBS Group reduced their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. TD Cowen dropped their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group dropped their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 1.6%

NYSE ICE opened at $139.55 on Friday. 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 company has a market capitalization of $78.92 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The company’s 50-day simple moving average is $140.83 and its two-hundred day simple moving average is $154.78. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

About Intercontinental Exchange

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.