Assetmark Inc. Has $13.33 Million Holdings in Intercontinental Exchange Inc. $ICE

Assetmark Inc. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 228.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $29,000. Private Wealth Management Group LLC boosted its holdings in 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. Knuff & Co LLC grew its stake in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Finally, Gables Capital Management Inc. increased its position in shares of Intercontinental Exchange by 100.0% during the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,572 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 181,570 shares of company stock worth $28,077,452 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ICE shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $195.40.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $152.31 on Monday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year 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 firm has a market capitalization of $86.50 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The firm’s fifty day moving average price is $165.24 and its two-hundred day moving average price is $165.37.

Intercontinental Exchange (NYSE:ICE) last released 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 return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 33.28%.

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.