Fifth Third Bancorp Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Fifth Third Bancorp decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,974 shares of the financial services provider’s stock after selling 846 shares during the quarter. Fifth Third Bancorp’s holdings in Intercontinental Exchange were worth $12,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the third quarter valued at about $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $31,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock worth $2,120,572 in the last three months. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE opened at $157.52 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average price is $152.98 and its 200-day moving average price is $155.98. The stock has a market capitalization of $90.45 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share 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.