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

Bright Rock Capital Management LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,000 shares of the financial services provider's stock, valued at approximately $4,470,000.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock valued at $5,647,000 after purchasing an additional 366 shares in the last quarter. M&T Bank Corp lifted its stake in Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider's stock valued at $7,500,000 after acquiring an additional 11,648 shares during the period. Toronto Dominion Bank grew its stake in shares of Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider's stock worth $49,888,000 after acquiring an additional 4,973 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Intercontinental Exchange in the 3rd quarter worth approximately $14,880,000. Finally, GDS Wealth Management boosted its stake in shares of Intercontinental Exchange by 5.3% in the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider's stock worth $16,612,000 after buying an additional 5,226 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday. Barclays lowered their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an "overweight" rating on the stock in a research report on Monday. StockNews.com lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a "buy" rating and a $182.00 price objective for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $175.20.

Intercontinental Exchange Trading Up 2.0 %

NYSE ICE traded up $2.86 during trading on Wednesday, hitting $148.11. The stock had a trading volume of 5,105,092 shares, compared to its average volume of 3,267,742. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day simple moving average of $153.62 and a 200 day simple moving average of $155.53. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99. The stock has a market capitalization of $85.04 billion, a price-to-earnings ratio of 35.10, a P/E/G ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company posted $1.46 EPS. Intercontinental Exchange's quarterly revenue was up 17.3% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.