Bright Rock Capital Management LLC Purchases New Shares in Intercontinental Exchange, Inc. (NYSE:ICE)

Bright Rock Capital Management LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 30,000 shares of the financial services provider’s stock, valued at approximately $4,470,000.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the third quarter worth $26,000. Financial Management Professionals Inc. boosted its stake in shares of 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 period. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the 3rd quarter worth $29,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated 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. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,533 shares of company stock valued at $1,196,279 in the last 90 days. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday. The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 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 price objective on the stock. in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Stock Up 0.9 %

ICE opened at $145.13 on Wednesday. The company 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 twelve month low of $124.34 and a twelve month high of $167.99. The company has a 50-day moving average price of $153.62 and a 200 day moving average price of $155.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $1.46 earnings per share. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.