Fifth Third Bancorp Sells 2,547 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Fifth Third Bancorp cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 80,427 shares of the financial services provider’s stock after selling 2,547 shares during the period. 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 (SEC).

Several other institutional investors have also added to or reduced their stakes in ICE. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Finally, Northern Trust Corp boosted its position in Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after buying an additional 655,247 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total value of $96,335.04. Following the transaction, the insider now owns 15,658 shares in the company, valued at approximately $2,732,634.16. This trade represents a 3.41% 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 over the last three months. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 0.8%

Shares of ICE opened at $178.99 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52-week low of $133.97 and a 52-week high of $180.89. The company has a market cap of $102.67 billion, a PE ratio of 37.45, a P/E/G ratio of 2.10 and a beta of 1.12. The business has a fifty day moving average of $169.77 and a 200 day moving average of $163.92.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Bank of America dropped 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. 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. Finally, Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

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.