Darwin Wealth Management LLC Purchases 3,644 Shares of Intercontinental Exchange Inc. $ICE

Darwin Wealth Management LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 40.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,722 shares of the financial services provider’s stock after purchasing an additional 3,644 shares during the quarter. Darwin Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,061,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ICE. Brighton Jones LLC increased its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. CW Advisors LLC increased its holdings in shares of Intercontinental Exchange by 25.7% during the second quarter. CW Advisors LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 425 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Intercontinental Exchange by 6.7% during the second quarter. Daiwa Securities Group Inc. now owns 104,737 shares of the financial services provider’s stock valued at $19,215,000 after acquiring an additional 6,559 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 $167.97 on Thursday. The business’s 50 day moving average price is $160.79 and its 200 day moving average price is $160.40. The firm has a market cap of $95.14 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Intercontinental Exchange’s dividend payout ratio is currently 36.05%.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president owned 165,304 shares in the company, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,418 shares of company stock valued at $54,196,631 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ICE. Barclays upped their price objective on shares of Intercontinental Exchange from $193.00 to $198.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group restated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $191.80.

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.