Marks Group Wealth Management Inc trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,970 shares of the financial services provider’s stock after selling 13,918 shares during the quarter. Intercontinental Exchange comprises 1.5% of Marks Group Wealth Management Inc’s portfolio, making the stock its 9th biggest holding. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $15,705,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after buying an additional 413,639 shares during the last quarter. State Street Corp raised its holdings in shares of Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after buying an additional 194,325 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $1,418,228,000. Finally, Capital World Investors raised its holdings in shares of Intercontinental Exchange by 12.5% in the fourth quarter. Capital World Investors now owns 7,907,399 shares of the financial services provider’s stock valued at $1,280,688,000 after buying an additional 878,435 shares during the last quarter. 89.30% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s 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 completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,001 shares of company stock valued at $1,847,820 over the last 90 days. Company insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Down 1.8%
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.72 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently issued reports on ICE shares. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley lifted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Barclays reissued an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Finally, Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.60.
Get Our Latest Research Report on ICE
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.
Read More
- Five stocks we like better than Intercontinental Exchange
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE – Free Report).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.
