Daymark Wealth Partners LLC Sells 10,119 Shares of Intercontinental Exchange Inc. $ICE

Daymark Wealth Partners LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 43.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,979 shares of the financial services provider’s stock after selling 10,119 shares during the period. Daymark Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $2,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Private Wealth Management Group LLC boosted its stake in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC boosted its stake in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Caitlin John LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $32,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Intercontinental Exchange by 128.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $156.83 on Thursday. The stock has a market capitalization of $89.06 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.68 and a beta of 1.03. The firm’s 50-day moving average price is $163.29 and its two-hundred day moving average price is $161.23. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders 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 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.

Insiders Place Their Bets

In related news, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 348,418 shares of company stock worth $54,196,631. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ICE. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $194.73.

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.