Morse Asset Management Inc Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Morse Asset Management Inc trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,409 shares of the financial services provider’s stock after selling 2,285 shares during the quarter. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $4,242,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after buying an additional 122,169 shares during the period. BDF Gestion purchased a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $2,849,000. Burke & Herbert Bank & Trust Co. acquired a new position in Intercontinental Exchange during the 2nd quarter valued at approximately $1,366,000. Blue Trust Inc. raised its holdings in shares of Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after buying an additional 3,924 shares during the last quarter. Finally, GDS Wealth Management lifted its stake in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after buying an additional 5,226 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $156.26 on Wednesday. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $160.53 and a 200 day moving average of $152.34. The firm has a market cap of $89.72 billion, a PE ratio of 37.03, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.46 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ICE. Barclays reduced their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,696 shares of company stock valued at $1,554,559. Corporate insiders own 1.10% 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.