MQS Management LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

MQS Management LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,566 shares of the financial services provider's stock, valued at approximately $733,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider's stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider's stock valued at $609,609,000 after buying an additional 191,763 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Intercontinental Exchange by 10.4% during the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider's stock worth $413,298,000 after acquiring an additional 284,664 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Intercontinental Exchange by 0.7% during the 1st quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider's stock valued at $384,122,000 after acquiring an additional 19,127 shares during the period. Finally, Raymond James & Associates increased its stake in Intercontinental Exchange by 11.1% in the third quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider's stock worth $407,348,000 after purchasing an additional 253,324 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, November 1st. StockNews.com upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Bank of America lifted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, Raymond James lowered shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.13.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded down $0.22 during midday trading on Wednesday, hitting $155.84. The company's stock had a trading volume of 2,026,407 shares, compared to its average volume of 2,568,785. The company has a market cap of $89.48 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $108.94 and a 12-month high of $167.99. The business's 50 day simple moving average is $161.33 and its 200 day simple moving average is $149.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates 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 was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Announces Dividend

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 of this dividend is Monday, December 16th. Intercontinental Exchange's dividend payout ratio is presently 42.65%.

Insider Transactions at Intercontinental Exchange

In other 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm's 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 owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the business'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 owns 13,530 shares of the company's stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Corporate insiders own 1.10% of the company's stock.

Intercontinental Exchange Company 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.