Intercontinental Exchange Inc. $ICE Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 29.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,602,921 shares of the financial services provider’s stock after acquiring an additional 814,680 shares during the quarter. Victory Capital Management Inc.’s holdings in Intercontinental Exchange were worth $583,537,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares during the period. Mechanics Financial Corp lifted its stake in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares during the period. Mission Wealth Management LP lifted its stake in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 63 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday. UBS Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,092 shares of company stock valued at $1,860,424 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Up 0.9%

ICE stock opened at $140.26 on Friday. The stock’s 50 day simple moving average is $154.22 and its 200 day simple moving average is $159.27. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $79.32 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

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.