Marks Group Wealth Management Inc Sells 22,877 Shares of Intercontinental Exchange Inc. $ICE

Marks Group Wealth Management Inc trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 23.6% during the first quarter, HoldingsChannel.com reports. The firm owned 74,093 shares of the financial services provider’s stock after selling 22,877 shares during the quarter. Intercontinental Exchange accounts for approximately 1.1% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 15th biggest holding. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $11,653,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Finally, Steph & Co. lifted its position 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 worth $28,000 after purchasing an additional 89 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $139.79 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $141.45 and its two-hundred day moving average price is $155.04. The company has a market cap of $79.05 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. TD Cowen dropped their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Finally, Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.58.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 in the last quarter. 0.84% of the stock is owned by corporate insiders.

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.