Fifth Third Bancorp Sells 9,346 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Fifth Third Bancorp reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,743 shares of the financial services provider’s stock after selling 9,346 shares during the quarter. Fifth Third Bancorp’s holdings in Intercontinental Exchange were worth $11,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. boosted its position in Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 75 shares during the period. Busey Bank lifted its holdings in Intercontinental Exchange by 3.4% during the 1st quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 80 shares during the last quarter. Western Pacific Wealth Management LP boosted its stake in Intercontinental Exchange by 4.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 80 shares during the period. M3 Advisory Group LLC grew its holdings in Intercontinental Exchange by 4.0% in the 2nd quarter. M3 Advisory Group LLC now owns 2,093 shares of the financial services provider’s stock valued at $287,000 after buying an additional 81 shares in the last quarter. Finally, Spire Wealth Management increased its position in Intercontinental Exchange by 16.4% during the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ICE shares. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays boosted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Finally, Argus reiterated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Intercontinental Exchange Price Performance

NYSE ICE traded up $0.36 during trading on Wednesday, hitting $158.11. 1,915,300 shares of the company’s stock were exchanged, compared to its average volume of 2,468,585. The company has a market cap of $90.69 billion, a PE ratio of 36.12, a P/E/G ratio of 2.68 and a beta of 1.06. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $158.46. The stock’s 50 day moving average price is $145.90 and its two-hundred day moving average price is $138.78.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Research analysts expect that Intercontinental Exchange, Inc. will post 6 EPS for the current year.

Intercontinental Exchange Company 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.