Morse Asset Management Inc Sells 1,053 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Morse Asset Management Inc lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,694 shares of the financial services provider’s stock after selling 1,053 shares during the quarter. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $3,928,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Gilbert & Cook Inc. increased its stake in Intercontinental Exchange by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 188 shares in the last quarter. 9258 Wealth Management LLC boosted its holdings in shares of Intercontinental Exchange by 29.9% in the fourth quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock valued at $977,000 after buying an additional 1,752 shares during the period. Gryphon Financial Partners LLC increased its position in shares of Intercontinental Exchange by 38.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 1,220 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 86 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Intercontinental Exchange by 58.0% during the fourth quarter. US Bancorp DE now owns 166,659 shares of the financial services provider’s stock worth $21,404,000 after acquiring an additional 61,150 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the 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 directly owns 13,530 shares in the company, valued at $2,202,819.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,166 shares of company stock worth $9,768,190. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Barclays upped their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $158.08.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $159.84 on Monday. The stock has a market capitalization of $91.68 billion, a PE ratio of 36.66, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The firm has a fifty day simple moving average of $155.82 and a 200 day simple moving average of $142.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

About Intercontinental Exchange

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.