Morse Asset Management Inc Buys 4,249 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Morse Asset Management Inc increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,747 shares of the financial services provider’s stock after acquiring an additional 4,249 shares during the quarter. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $4,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Intercontinental Exchange by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after buying an additional 1,991 shares in the last quarter. Point72 Europe London LLP lifted its stake in shares of Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares in the last quarter. Perpetual Ltd lifted its stake in shares of Intercontinental Exchange by 0.4% in the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after buying an additional 6,272 shares in the last quarter. Finally, LGT Group Foundation lifted its stake in shares of Intercontinental Exchange by 36.0% in the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock valued at $45,724,000 after buying an additional 94,039 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the sale, the director now directly owns 28,849 shares in the company, valued at approximately $3,882,209.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the transaction, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders sold a total of 64,992 shares of company stock worth $9,197,801 over the last three months. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ICE shares. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays raised their price objective on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Argus reiterated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Keefe, Bruyette & Woods lowered their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.07.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $1.97 during trading hours on Friday, reaching $151.00. The stock had a trading volume of 2,066,933 shares, compared to its average volume of 2,815,487. The stock’s fifty day simple moving average is $139.66 and its 200 day simple moving average is $135.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $151.72. The firm has a market capitalization of $86.61 billion, a PE ratio of 34.63, a PEG ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business earned $1.41 earnings per share. Intercontinental Exchange’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6 EPS for the current year.

Intercontinental Exchange Company 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.