Intercontinental Exchange Inc. $ICE Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,853 shares of the financial services provider’s stock after selling 7,825 shares during the quarter. Fifth Third Bancorp’s holdings in Intercontinental Exchange were worth $27,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Maryland State Retirement & Pension System grew its position in Intercontinental Exchange by 13.6% in the third quarter. Maryland State Retirement & Pension System now owns 34,464 shares of the financial services provider’s stock valued at $5,240,000 after acquiring an additional 4,131 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Intercontinental Exchange by 17.2% in the 3rd quarter. Ritholtz Wealth Management now owns 8,200 shares of the financial services provider’s stock worth $1,247,000 after acquiring an additional 1,206 shares in the last quarter. UNIVEST FINANCIAL Corp increased its stake in Intercontinental Exchange by 7.8% during the third quarter. UNIVEST FINANCIAL Corp now owns 49,100 shares of the financial services provider’s stock valued at $7,465,000 after purchasing an additional 3,546 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Intercontinental Exchange by 1.2% during the third quarter. Jacobi Capital Management LLC now owns 13,318 shares of the financial services provider’s stock worth $2,025,000 after acquiring an additional 161 shares during the period. Finally, Inspire Trust Co. N.A. boosted its position in Intercontinental Exchange by 7.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 43,000 shares of the financial services provider’s stock valued at $6,537,000 after purchasing an additional 3,000 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.3%

Shares of NYSE:ICE opened at $178.43 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day moving average is $160.31 and its 200-day moving average is $154.73. The company has a market cap of $99.72 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.57 and a beta of 0.84. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.38.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the business earned $1.71 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Trending Headlines about Intercontinental Exchange

Here are a few of the latest headlines about ICE:

• Positive Sentiment: ICE and OKX have launched a joint venture to create a venue for tokenized stock trading. The initiative could extend ICE’s reach into digital-asset markets, though its financial impact will depend on adoption and execution. Article: Intercontinental Exchange and OKX launch tokenized stock trading venue through joint venture
• Positive Sentiment: Analyst sentiment is favorable: ICE has a consensus “Moderate Buy” rating and an average price target of $189.25, above the roughly $178 share price cited in the coverage. Article: Intercontinental Exchange stock has consensus price target of $189.25
• Negative Sentiment: Three insiders disclosed stock sales: CTO Mayur Kapani sold 4,272 shares, General Counsel Andrew Surdykowski sold 4,575, and Director Sharon Bowen sold 2,100. Each retained shares, but the transactions could be a modest negative sentiment signal. SEC filing: Mayur Kapani transaction SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew Surdykowski sold 4,575 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $175.05, for a total value of $800,853.75. Following the completion of the transaction, the general counsel owned 40,554 shares in the company, valued at approximately $7,098,977.70. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 400 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $177.90, for a total transaction of $71,160.00. Following the transaction, the president owned 156,532 shares of the company’s stock, valued at approximately $27,847,042.80. This represents a 0.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,272 shares of company stock worth $9,403,571. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Wells Fargo & Company increased their price objective on Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a research report on Friday, October 30th. TD Cowen upped their price target on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, October 30th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Barclays upped their target price on Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.25.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.