Marks Group Wealth Management Inc increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 15.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 68,099 shares of the financial services provider’s stock after purchasing an additional 9,273 shares during the quarter. Intercontinental Exchange accounts for approximately 1.1% of Marks Group Wealth Management Inc’s portfolio, making the stock its 11th largest position. Marks Group Wealth Management Inc’s holdings in Intercontinental Exchange were worth $8,088,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Magellan Asset Management Ltd boosted its holdings in shares of Intercontinental Exchange by 20.2% during the first quarter. Magellan Asset Management Ltd now owns 21,882,418 shares of the financial services provider’s stock worth $2,443,828,000 after purchasing an additional 3,680,812 shares during the period. BlackRock Inc. lifted its stake in Intercontinental Exchange by 8.2% in the first quarter. BlackRock Inc. now owns 39,675,049 shares of the financial services provider’s stock worth $4,430,910,000 after acquiring an additional 2,990,090 shares during the period. Flossbach Von Storch AG lifted its position in shares of Intercontinental Exchange by 1,018.7% in the 2nd quarter. Flossbach Von Storch AG now owns 2,626,650 shares of the financial services provider’s stock worth $311,783,000 after purchasing an additional 2,391,850 shares during the period. Harvard Management Co. Inc. purchased a new position in shares of Intercontinental Exchange during the first quarter valued at about $230,334,000. Finally, ARK Investment Management LLC lifted its holdings in Intercontinental Exchange by 23.2% in the first quarter. ARK Investment Management LLC now owns 5,617,092 shares of the financial services provider’s stock worth $627,317,000 after buying an additional 1,059,118 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Mark Wassersug sold 2,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $120.22, for a total transaction of $240,440.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,887 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $120.00, for a total value of $226,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,645 shares of company stock valued at $913,410 in the last ninety days. Insiders own 1.30% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 29th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.16. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. Intercontinental Exchange had a return on equity of 13.16% and a net margin of 32.25%. Research analysts forecast that Intercontinental Exchange, Inc. will post 4.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.11%. Intercontinental Exchange’s dividend payout ratio is currently 29.27%.
Several equities analysts have commented on the company. Raymond James raised their price objective on Intercontinental Exchange from $136.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Friday, July 30th. Morgan Stanley boosted their price target on Intercontinental Exchange from $122.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, June 23rd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $128.50.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.
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