Morse Asset Management Inc lessened its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,630 shares of the financial services provider’s stock after selling 10,775 shares during the quarter. Intercontinental Exchange accounts for about 1.2% of Morse Asset Management Inc’s holdings, making the stock its 26th biggest position. Morse Asset Management Inc’s holdings in Intercontinental Exchange were worth $4,419,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC lifted its stake in Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $127,000. Americafirst Capital Management LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $145,000. Savant Capital LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $206,000. Finally, Geneva Partners LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $206,000. 90.30% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on ICE. UBS Group upped their price objective on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Argus restated a “buy” rating and set a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a report on Friday. Bank of America dropped their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Berenberg Bank began coverage on shares of Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target for the company. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $76.08.
Intercontinental Exchange Inc (NYSE ICE) traded down $0.11 on Tuesday, reaching $68.49. 475,077 shares of the company traded hands, compared to its average volume of 2,824,717. Intercontinental Exchange Inc has a 52-week low of $56.97 and a 52-week high of $76.14. The firm has a market capitalization of $39,858.04, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.41 and a beta of 0.66. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.25.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.71 earnings per share. Intercontinental Exchange’s revenue was up .5% compared to the same quarter last year. equities analysts anticipate that Intercontinental Exchange Inc will post 3.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio is 18.87%.
Intercontinental Exchange declared that its board has authorized a share repurchase plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, insider Dean S. Mathison sold 1,042 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $75.79, for a total transaction of $78,973.18. Following the transaction, the insider now owns 12,485 shares in the company, valued at approximately $946,238.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $71.93, for a total transaction of $539,475.00. Following the transaction, the insider now owns 377,471 shares in the company, valued at approximately $27,151,489.03. The disclosure for this sale can be found here. Insiders sold a total of 48,910 shares of company stock valued at $3,579,672 in the last ninety days. Company insiders own 1.50% of the company’s stock.
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Intercontinental Exchange Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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