Bright Rock Capital Management LLC Buys Shares of 30,000 Intercontinental Exchange, Inc. (NYSE:ICE)

Bright Rock Capital Management LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the financial services provider’s stock, valued at approximately $4,470,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC increased its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.20.

Intercontinental Exchange Stock Up 0.9 %

Intercontinental Exchange stock opened at $145.13 on Wednesday. The stock has a fifty day moving average of $153.62 and a 200 day moving average of $155.53. The stock has a market cap of $83.33 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99. 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) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The firm 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%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.