RB Capital Management LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

RB Capital Management LLC decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.3% in the third quarter, HoldingsChannel reports. The firm owned 4,539 shares of the financial services provider’s stock after selling 303 shares during the quarter. RB Capital Management LLC’s holdings in Intercontinental Exchange were worth $729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange in the second quarter worth $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the second quarter worth $25,000. Wolff Wiese Magana LLC lifted its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange during the third quarter valued at $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays upped their target price on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Trading Up 0.1 %

Shares of ICE stock opened at $156.07 on Tuesday. Intercontinental Exchange, Inc. has a 1 year low of $113.87 and a 1 year high of $167.99. The firm has a fifty day moving average price of $160.29 and a 200-day moving average price of $152.89. The company has a market cap of $89.61 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 2.58 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,946 shares of company stock worth $1,433,486. 1.10% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

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.