Victory Capital Management Inc. Has $40.26 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Victory Capital Management Inc. lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,633 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $40,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its stake in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Stock Down 0.6 %

NYSE ICE opened at $155.55 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $89.31 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $110.64 and a one year high of $167.99. The stock has a 50 day moving average price of $161.07 and a 200-day moving average price of $149.75.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.