Daymark Wealth Partners LLC Acquires 1,403 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Daymark Wealth Partners LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,480 shares of the financial services provider’s stock after acquiring an additional 1,403 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $3,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. GPS Wealth Strategies Group LLC raised its position in Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 63 shares in the last quarter. MV Capital Management Inc. raised its position in Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 68 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares in the last quarter. Quadcap Wealth Management LLC raised its position in Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 71 shares in the last quarter. Finally, Colonial Trust Co SC raised its position in Intercontinental Exchange by 11.7% during the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 72 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Stock Up 0.6%

Shares of NYSE:ICE opened at $180.85 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12 month low of $136.21 and a 12 month high of $181.65. The company has a 50-day moving average price of $173.59 and a 200 day moving average price of $165.13. The company has a market cap of $103.74 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 1.94 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Insider Activity

In related news, Director Martha A. Tirinnanzi sold 397 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the completion of the transaction, the director now owns 4,526 shares of the company’s stock, valued at $801,599.86. The trade was a 8.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the transaction, the insider now directly owns 15,658 shares of the company’s stock, valued at $2,732,634.16. This trade represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 227,954 shares of company stock valued at $40,796,663. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.