AXQ Capital LP Invests $1.56 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

AXQ Capital LP purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,495 shares of the financial services provider’s stock, valued at approximately $1,564,000. Intercontinental Exchange comprises 0.7% of AXQ Capital LP’s investment portfolio, making the stock its 12th largest position.

Other hedge funds have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $25,000. FSA Wealth Management LLC bought a new position in Intercontinental Exchange during the 3rd quarter worth about $31,000. Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange during the 4th quarter worth about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter worth about $40,000. Finally, Golden State Wealth Management LLC bought a new position in Intercontinental Exchange during the 4th quarter worth about $51,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $174.42 on Friday. The firm has a market capitalization of $100.22 billion, a P/E ratio of 36.49, a PEG ratio of 2.10 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $164.29 and a 200 day moving average price of $160.09. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by company 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.