Intercontinental Exchange Inc. $ICE Stake Boosted 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 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,602,921 shares of the financial services provider’s stock after purchasing an additional 814,680 shares during the quarter. Victory Capital Management Inc. owned 0.63% of Intercontinental Exchange worth $583,537,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Holos Integrated Wealth LLC bought a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. lifted its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Swiss RE Ltd. bought a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Dorato Capital Management bought a new position in Intercontinental Exchange during the fourth quarter worth $29,000. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ICE. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Friday, March 6th. UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Morgan Stanley raised their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Stock Performance

ICE stock opened at $140.26 on Friday. 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 stock has a market capitalization of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.33 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The stock’s fifty day moving average is $154.22 and its two-hundred day moving average is $159.27.

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

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,092 shares of company stock valued at $1,860,424 over the last three months. 0.84% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.