Morse Asset Management Inc Sells 5,774 Shares of Intercontinental Exchange Inc. $ICE

Morse Asset Management Inc lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,445 shares of the financial services provider’s stock after selling 5,774 shares during the quarter. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $3,959,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Steph & Co. grew its holdings in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Finally, Caitlin John LLC bought a new stake in Intercontinental Exchange in the third quarter worth $32,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the business’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 value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the transaction, the chief financial officer directly owned 27,679 shares of the company’s stock, valued at $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 348,418 shares of company stock valued at $54,196,631. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ICE shares. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Friday, March 6th. Finally, Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $194.10.

Intercontinental Exchange Trading Up 1.1%

Intercontinental Exchange stock opened at $156.43 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a market capitalization of $88.61 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. The stock has a 50-day moving average price of $160.21 and a 200 day moving average price of $160.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s payout ratio is 30.28%.

Intercontinental Exchange Company Profile

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.