Fifth Third Bancorp Has $13.87 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Fifth Third Bancorp reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,427 shares of the financial services provider’s stock after selling 2,547 shares during the quarter. Fifth Third Bancorp’s holdings in Intercontinental Exchange were worth $13,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ICE. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after buying an additional 91 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth about $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $34,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ICE. Barclays lifted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Bank of America lowered their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target 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, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at $3,396,876. The trade was a 10.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now directly owns 4,526 shares of the company’s stock, valued at $801,599.86. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,354 shares of company stock valued at $40,512,695 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE ICE opened at $178.99 on Friday. The stock has a market cap of $102.67 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm has a 50 day moving average price of $169.77 and a two-hundred day moving average price of $163.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $133.97 and a 52-week high of $180.89.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s payout ratio is 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.