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

Fifth Third Bancorp decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F 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 period. Fifth Third Bancorp's holdings in Intercontinental Exchange were worth $13,874,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Strategic Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock worth $201,000 after purchasing an additional 66 shares during the last quarter. MV Capital Management Inc. lifted its holdings in shares of Intercontinental Exchange by 15.7% in the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after purchasing an additional 68 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after purchasing an additional 71 shares during the last quarter. Quadcap Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock worth $918,000 after purchasing an additional 71 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in shares of Intercontinental Exchange by 11.7% in the 4th quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock worth $102,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICE. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley raised their target price on 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $188.46.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $0.78 during mid-day trading on Friday, hitting $178.30. 2,500,290 shares of the stock traded hands, compared to its average volume of 3,020,161. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company's 50-day simple moving average is $170.32 and its 200-day simple moving average is $164.06. Intercontinental Exchange, Inc. has a twelve month low of $133.97 and a twelve month high of $180.89.

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

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martha A. Tirinnanzi sold 397 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the completion of the transaction, the director now owns 4,526 shares in the company, 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 have sold 227,954 shares of company stock worth $40,796,663 in the last three months. 1.00% of the stock is currently owned by insiders.

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.