4,660 Shares in Intercontinental Exchange Inc. $ICE Bought by RB Capital Management LLC

RB Capital Management LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,660 shares of the financial services provider’s stock, valued at approximately $574,000.

Several other large investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares during the period. BlackRock Inc. acquired a new position in Intercontinental Exchange during the second quarter worth $6,245,085,000. USS Investment Management Ltd lifted its holdings in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its holdings in Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after purchasing an additional 15,129 shares in the last quarter. Finally, Nicholas Company Inc. grew its position in shares of Intercontinental Exchange by 10.1% in the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after purchasing an additional 40,240 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

ICE opened at $162.46 on Friday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $177.76. The firm has a market capitalization of $91.20 billion, a PE ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $144.90 and its 200 day moving average price is $151.50.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 1,340 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the sale, the director owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 23,141 shares of company stock valued at $3,554,192. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. UBS Group reissued a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

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.