Victory Capital Management Inc. Decreases Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Victory Capital Management Inc. cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,684 shares of the financial services provider's stock after selling 12,341 shares during the quarter. Victory Capital Management Inc.'s holdings in Intercontinental Exchange were worth $35,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after purchasing an additional 538,670 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada raised its stake in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the last quarter. Norges Bank bought a new position in Intercontinental Exchange in the fourth quarter valued at about $1,196,258,000. Finally, Northern Trust Corp lifted its stake in shares of Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the period. Institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,119 shares of company stock valued at $40,524,217. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays upped their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Trading Up 1.5%

Shares of ICE stock traded up $2.70 during trading hours on Thursday, reaching $183.70. 2,981,184 shares of the stock were exchanged, compared to its average volume of 1,777,487. The firm has a market capitalization of $105.38 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $184.03. The company's 50-day moving average price is $179.64 and its 200-day moving average price is $169.58. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Intercontinental Exchange Profile

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.