Victory Capital Management Inc. Has $475.05 Million Stake in Intercontinental Exchange Inc. $ICE

Victory Capital Management Inc. lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,788,241 shares of the financial services provider’s stock after selling 451,493 shares during the quarter. Victory Capital Management Inc. owned about 0.49% of Intercontinental Exchange worth $475,046,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ICE. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $29,000. Knuff & Co LLC increased its holdings in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Private Wealth Management Group LLC raised its position in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Caitlin John LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $32,000. Finally, Capital A Wealth Management LLC lifted its holdings in Intercontinental Exchange by 26,000.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 359,063 shares of company stock worth $55,879,604 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $164.71 on Tuesday. The stock has a market cap of $93.54 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The stock has a 50-day moving average of $164.53 and a 200-day moving average of $163.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Buy” and an average target price of $195.40.

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.