Marks Group Wealth Management Inc Sells 606 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Marks Group Wealth Management Inc lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,295 shares of the financial services provider’s stock after selling 606 shares during the period. Intercontinental Exchange comprises about 1.5% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 7th largest position. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $15,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Quintet Private Bank Europe S.A. raised its holdings in shares of Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. lifted its stake in Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 66 shares during the period. Commons Capital LLC increased its holdings in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $166.96 on Wednesday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $169.75. The business’s fifty day moving average is $153.53 and its two-hundred day moving average is $157.19. The stock has a market capitalization of $95.86 billion, a P/E ratio of 34.93, a P/E/G ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 37.66%.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,358 shares of company stock worth $5,535,650 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays upped their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $178.80.

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.