Victory Capital Management Inc. Sells 389 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Victory Capital Management Inc. lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 SEC filing.

Other large investors have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the third quarter worth $25,000. Jones Financial Companies Lllp acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $31,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction 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 $2,164,763.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley raised their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup boosted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Intercontinental Exchange Trading Up 1.9 %

Shares of NYSE:ICE opened at $133.72 on Wednesday. The company has a market capitalization of $76.70 billion, a PE ratio of 30.67, a PEG ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The business has a 50 day moving average of $134.78 and a two-hundred day moving average of $126.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

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, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

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.