Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,661 shares of the financial services provider’s stock after acquiring an additional 911 shares during the quarter. QRG Capital Management Inc.’s holdings in Intercontinental Exchange were worth $2,676,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. National Pension Service boosted its holdings in Intercontinental Exchange by 13.8% in the 3rd quarter. National Pension Service now owns 1,040,829 shares of the financial services provider’s stock valued at $167,199,000 after purchasing an additional 126,132 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in Intercontinental Exchange by 16.5% in the third quarter. Wetzel Investment Advisors Inc. now owns 1,909 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 270 shares during the last quarter. BSW Wealth Partners purchased a new position in Intercontinental Exchange in the third quarter worth approximately $308,000. Confluence Wealth Services Inc. increased its stake in Intercontinental Exchange by 140.5% during the third quarter. Confluence Wealth Services Inc. now owns 5,651 shares of the financial services provider’s stock worth $908,000 after acquiring an additional 3,301 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Intercontinental Exchange by 5.1% in the third quarter. Janney Montgomery Scott LLC now owns 69,407 shares of the financial services provider’s stock valued at $11,150,000 after purchasing an additional 3,381 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.3 %

NYSE:ICE opened at $155.79 on Thursday. The stock has a fifty day moving average price of $161.71 and a 200 day moving average price of $148.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $107.76 and a 12-month high of $167.99. The firm has a market cap of $89.45 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.09 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ICE shares. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays reduced their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $173.93.

Insider Activity

In related news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on 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 approximately $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the firm’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 transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by corporate insiders.

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.