Victory Capital Management Inc. Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Victory Capital Management Inc. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,633 shares of the financial services provider’s stock after selling 1,000 shares during the period. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $40,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after purchasing an additional 122,169 shares during the period. UniSuper Management Pty Ltd lifted its position in Intercontinental Exchange by 200.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after acquiring an additional 9,642 shares during the period. BDF Gestion acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $2,849,000. LRI Investments LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth about $137,000. Finally, Burke & Herbert Bank & Trust Co. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $1,366,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.6 %

NYSE ICE opened at $155.55 on Friday. The firm’s 50 day moving average price is $161.07 and its two-hundred day moving average price is $149.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a twelve month low of $110.64 and a twelve month high of $167.99. The stock has a market cap of $89.31 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Analyst Ratings Changes

ICE has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. 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 research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.