Intercontinental Exchange Inc. $ICE Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing 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 investment portfolio, making the stock its 9th largest holding. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $15,705,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Steph & Co. raised its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $138.89 on Tuesday. The stock’s fifty day simple moving average is $155.49 and its 200 day simple moving average is $159.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $78.54 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $136.67 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 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 EPS. On average, analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the business’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 sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,001 shares of company stock worth $1,847,820 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley upped 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. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Barclays restated 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. Keefe, Bruyette & Woods began 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. Finally, Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.60.

Intercontinental Exchange 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.