Intercontinental Exchange Inc. $ICE Stake Decreased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,888 shares of the financial services provider’s stock after selling 6,546 shares during the quarter. Intercontinental Exchange accounts for 1.7% of Marks Group Wealth Management Inc’s portfolio, making the stock its 4th largest position. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $18,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock worth $9,849,677,000 after purchasing an additional 745,135 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares during the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $1,542,780,000. Sands Capital Management LLC boosted its holdings in Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares during the period. Finally, Legal & General Group Plc grew its position in Intercontinental Exchange by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock valued at $644,096,000 after acquiring an additional 137,685 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 0.1%

NYSE ICE opened at $154.00 on Monday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $87.45 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.02. The company’s 50-day simple moving average is $164.58 and its two-hundred day simple moving average is $164.21.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 33.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $195.40.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 15,213 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. This represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total value of $23,250,000.00. Following the sale, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 341,036 shares of company stock worth $53,068,762. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.