QRG Capital Management Inc. Buys 2,145 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

QRG Capital Management Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,943 shares of the financial services provider's stock after purchasing an additional 2,145 shares during the quarter. QRG Capital Management Inc.'s holdings in Intercontinental Exchange were worth $3,440,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ICE. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $25,000. REAP Financial Group LLC raised its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $29,000. Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $34,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $179.57 on Thursday. The company has a 50 day moving average price of $171.83 and a 200-day moving average price of $164.43. Intercontinental Exchange Inc. has a 52 week low of $134.78 and a 52 week high of $181.65. The firm has a market capitalization of $103.00 billion, a PE ratio of 37.18, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president now owns 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Martha A. Tirinnanzi sold 397 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now directly owns 4,526 shares in the company, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

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.

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