QRG Capital Management Inc. Has $4.14 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• QRG Capital Management Inc. increased its holdings in Intercontinental Exchange Inc. by 13.0%, owning a total of 22,544 shares valued at $4.14 million after acquiring 2,601 additional shares during the second quarter.
• Multiple institutional investors have significantly raised their stakes in Intercontinental Exchange, with Tsfg LLC increasing its holdings by 187.3% during the first quarter.
• Analysts have varied views on Intercontinental Exchange, with a consensus rating of "Moderate Buy" and a price target of $198.20, following recent adjustments by firms like Morgan Stanley and UBS Group.

QRG Capital Management Inc. increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,544 shares of the financial services provider's stock after acquiring an additional 2,601 shares during the period. QRG Capital Management Inc.'s holdings in Intercontinental Exchange were worth $4,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tsfg LLC raised its holdings in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares in the last quarter. Activest Wealth Management grew its position in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 162 shares during the period. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Hilltop National Bank bought a new position in shares of Intercontinental Exchange during the second quarter valued at $31,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the first quarter valued at $30,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $198.20.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

ICE stock opened at $158.96 on Tuesday. The company has a 50 day moving average price of $176.06 and a 200 day moving average price of $174.56. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $90.99 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.

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