Assetmark Inc. Acquires 3,469 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Assetmark Inc. lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,481 shares of the financial services provider's stock after acquiring an additional 3,469 shares during the quarter. Assetmark Inc.'s holdings in Intercontinental Exchange were worth $2,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Verdence Capital Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $247,000. SpiderRock Advisors LLC lifted its stake in Intercontinental Exchange by 701.3% in the third quarter. SpiderRock Advisors LLC now owns 17,556 shares of the financial services provider's stock valued at $2,820,000 after acquiring an additional 15,365 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at $859,000. Beckerman Institutional LLC bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $562,000. Finally, Fiera Capital Corp increased its stake in shares of Intercontinental Exchange by 8.5% during the 3rd quarter. Fiera Capital Corp now owns 29,056 shares of the financial services provider's stock worth $4,668,000 after purchasing an additional 2,268 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ICE. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Raymond James cut Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a "buy" rating and a $182.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $0.63 during mid-day trading on Thursday, reaching $156.47. The stock had a trading volume of 2,542,195 shares, compared to its average volume of 2,568,726. Intercontinental Exchange, Inc. has a 12 month low of $110.11 and a 12 month high of $167.99. The stock has a market capitalization of $89.84 billion, a PE ratio of 36.93, a P/E/G ratio of 2.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day simple moving average of $161.20 and a two-hundred day simple moving average of $149.70.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Intercontinental Exchange's revenue was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange's payout ratio is currently 42.65%.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,171 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company's stock.

Intercontinental Exchange 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.