Morse Asset Management Inc lessened its position in Intercontinental Exchange Inc (NYSE:ICE) by 17.8% in the 2nd quarter, Holdings Channel reports. The firm owned 33,820 shares of the financial services provider’s stock after selling 7,335 shares during the period. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $2,906,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ICE. TD Asset Management Inc. increased its position in shares of Intercontinental Exchange by 91.9% during the second quarter. TD Asset Management Inc. now owns 1,021,707 shares of the financial services provider’s stock worth $87,806,000 after acquiring an additional 489,215 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in Intercontinental Exchange by 118.9% during the second quarter. Wedbush Securities Inc. now owns 10,373 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 5,635 shares during the last quarter. Capital Advisors Ltd. LLC acquired a new position in Intercontinental Exchange during the second quarter worth $42,000. CIBC Private Wealth Group LLC boosted its holdings in Intercontinental Exchange by 15.1% during the second quarter. CIBC Private Wealth Group LLC now owns 3,692,733 shares of the financial services provider’s stock worth $317,354,000 after purchasing an additional 484,208 shares during the last quarter. Finally, Cibc Bank USA boosted its holdings in Intercontinental Exchange by 32.3% during the second quarter. Cibc Bank USA now owns 5,625 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 1,373 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.
ICE stock traded up $1.42 during trading hours on Tuesday, reaching $92.01. The stock had a trading volume of 138,814 shares, compared to its average volume of 2,053,113. The company has a market capitalization of $52.05 billion, a PE ratio of 25.65, a PEG ratio of 3.01 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $89.53. Intercontinental Exchange Inc has a fifty-two week low of $69.69 and a fifty-two week high of $93.40.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange Inc will post 3.78 earnings per share for the current fiscal year.
Several research analysts recently commented on ICE shares. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Raymond James increased their target price on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, July 5th. Finally, Citigroup cut shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and increased their target price for the stock from $92.00 to $99.00 in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Intercontinental Exchange currently has an average rating of “Buy” and a consensus target price of $88.21.
In other news, insider David S. Goone sold 7,689 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $92.00, for a total transaction of $707,388.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,490 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $89.53, for a total transaction of $222,929.70. Following the sale, the general counsel now owns 41,516 shares of the company’s stock, valued at approximately $3,716,927.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,966 shares of company stock valued at $15,414,996. Corporate insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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