RB Capital Management LLC Takes Position in Intercontinental Exchange Inc. $ICE

RB Capital Management LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,660 shares of the financial services provider’s stock, valued at approximately $574,000.

Several other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange in the second quarter valued at $26,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $30,000. Finally, Gables Capital Management Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $162.46 on Friday. The stock’s 50-day moving average price is $144.90 and its 200 day moving average price is $151.50. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.76. 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 has a market cap of $91.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results 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. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $1.81 EPS. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,141 shares of company stock valued at $3,554,192. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ICE shares. UBS Group reaffirmed a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler dropped their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Company 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.