Morse Asset Management Inc Has $3.96 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Morse Asset Management Inc trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

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

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the sale, the president directly owned 165,692 shares of the company’s stock, valued at $27,339,180. This represents a 7.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. This trade represents a 19.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 348,418 shares of company stock worth $54,196,631. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICE shares. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.10.

Intercontinental Exchange Trading Up 1.1%

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

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 30.28%.

About Intercontinental Exchange

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.