Bright Rock Capital Management LLC Has $7.58 Million Stake in Intercontinental Exchange Inc. $ICE

Bright Rock Capital Management LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 50.0% during the third quarter, Holdings Channel reports. The institutional investor owned 45,000 shares of the financial services provider’s stock after buying an additional 15,000 shares during the quarter. Intercontinental Exchange makes up about 1.5% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Bright Rock Capital Management LLC’s holdings in Intercontinental Exchange were worth $7,582,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report 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. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Barclays set a $182.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $173.66 on Friday. The company has a market capitalization of $99.02 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.16 and a beta of 1.03. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The business’s 50-day moving average is $164.03 and its 200-day moving average is $166.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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

Insider Buying and Selling at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 3,700 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the transaction, the director directly owned 14,469 shares in the company, valued at $2,285,523.24. The trade was a 20.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 166,068 shares of company stock worth $25,470,702. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

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.