QRG Capital Management Inc. Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

QRG Capital Management Inc. increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,798 shares of the financial services provider’s stock after buying an additional 1,137 shares during the quarter. QRG Capital Management Inc.’s holdings in Intercontinental Exchange were worth $2,652,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Capital Performance Advisors LLP bought a new position in Intercontinental Exchange in the 3rd quarter worth $29,000. FSA Wealth Management LLC purchased a new position in Intercontinental Exchange during the third quarter valued at $31,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Planning Capital Management Corp grew its holdings in Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 147 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $173.21 on Friday. The business’s 50-day moving average is $157.41 and its 200 day moving average is $158.79. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $173.54. The company has a market capitalization of $99.52 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.10 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.11%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ICE shares. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Barclays upped their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group lifted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,268 shares of company stock valued at $11,262,789 in the last three months. Corporate insiders own 1.10% of the company’s stock.

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.