Victory Capital Management Inc. Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Victory Capital Management Inc. reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 211,786 shares of the financial services provider’s stock after selling 389 shares during the period. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $27,200,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in shares of Intercontinental Exchange by 4.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock valued at $4,534,000 after purchasing an additional 1,716 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Intercontinental Exchange by 11.4% during the third quarter. Lindbrook Capital LLC now owns 1,459 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 149 shares during the period. Strs Ohio lifted its holdings in shares of Intercontinental Exchange by 6.6% during the third quarter. Strs Ohio now owns 254,855 shares of the financial services provider’s stock worth $28,039,000 after purchasing an additional 15,877 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Intercontinental Exchange by 3.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 134,409 shares of the financial services provider’s stock valued at $14,788,000 after buying an additional 4,405 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Intercontinental Exchange by 17.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,421 shares of the financial services provider’s stock valued at $261,000 after buying an additional 356 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Citigroup lifted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group raised their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Barclays dropped their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $133.72 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $134.78 and its 200 day simple moving average is $126.35. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The firm has a market capitalization of $76.70 billion, a PE ratio of 30.67, a P/E/G ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s payout ratio is 41.28%.

Intercontinental Exchange 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.