Bright Rock Capital Management LLC Acquires 15,000 Shares of Intercontinental Exchange Inc. $ICE

Bright Rock Capital Management LLC grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 50.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,000 shares of the financial services provider’s stock after acquiring an additional 15,000 shares during the period. Intercontinental Exchange accounts for approximately 1.5% of Bright Rock Capital Management LLC’s holdings, making the stock its 26th largest position. Bright Rock Capital Management LLC’s holdings in Intercontinental Exchange were worth $7,582,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange during the second quarter worth approximately $29,000. Private Wealth Management Group LLC grew its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Hilltop National Bank acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $31,000. Finally, Knuff & Co LLC raised its position in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the sale, the director owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This trade represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares in the company, valued at $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 166,068 shares of company stock valued at $25,470,702. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $193.50.

Intercontinental Exchange Stock Down 0.8%

ICE opened at $173.66 on Friday. The company has a market capitalization of $99.02 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.16 and a beta of 1.03. 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 firm’s fifty day moving average price is $164.03 and its two-hundred day moving average price is $166.88. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.