Intercontinental Exchange, Inc. (NYSE:ICE) Stock Holdings Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,025 shares of the financial services provider’s stock after selling 30,608 shares during the period. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $32,786,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI raised its position in Intercontinental Exchange by 23.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,245 shares of the financial services provider’s stock valued at $1,676,000 after acquiring an additional 2,126 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Intercontinental Exchange by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,232,909 shares of the financial services provider’s stock worth $481,736,000 after purchasing an additional 90,817 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Mission Wealth Management LP now owns 11,595 shares of the financial services provider’s stock valued at $1,728,000 after purchasing an additional 167 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its stake in shares of Intercontinental Exchange by 0.3% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 438,234 shares of the financial services provider’s stock valued at $65,301,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its holdings in Intercontinental Exchange by 165.0% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 1,354 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 843 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This represents a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,268 shares of company stock valued at $11,262,789 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $170.40 on Monday. The business has a 50 day moving average price of $159.46 and a 200 day moving average price of $159.30. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41. The company has a market cap of $97.91 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. UBS Group raised their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

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.