Victory Capital Management Inc. Sells 451,493 Shares of Intercontinental Exchange Inc. $ICE

Victory Capital Management Inc. trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 13.9% during the third quarter, HoldingsChannel.com reports. The firm owned 2,788,241 shares of the financial services provider’s stock after selling 451,493 shares during the quarter. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $475,046,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dynasty Wealth Management LLC acquired a new position in Intercontinental Exchange during the third quarter worth $897,000. Rockland Trust Co. boosted its stake in shares of Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after buying an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after acquiring an additional 3,261 shares in the last quarter. Eastern Bank increased its position in shares of Intercontinental Exchange by 14.6% in the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after acquiring an additional 25,980 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its holdings in Intercontinental Exchange by 1.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after acquiring an additional 13,497 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total transaction of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares in the company, valued at approximately $4,262,566. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 359,063 shares of company stock valued at $55,879,604. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.4%

Shares of Intercontinental Exchange stock opened at $164.71 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day moving average of $164.53 and a 200-day moving average of $163.18. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock has a market cap of $93.54 billion, a PE ratio of 28.55, a PEG ratio of 1.71 and a beta of 1.04.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Analyst Ratings Changes

ICE has been the topic of several recent analyst reports. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. UBS Group reissued a “buy” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $195.40.

Intercontinental Exchange 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.