Intercontinental Exchange Inc (NYSE:ICE) Stock Position Increased by M&T Bank Corp

M&T Bank Corp grew its position in Intercontinental Exchange Inc (NYSE:ICE) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,182 shares of the financial services provider’s stock after purchasing an additional 2,073 shares during the period. M&T Bank Corp’s holdings in Intercontinental Exchange were worth $7,984,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ICE. Skylands Capital LLC grew its holdings in shares of Intercontinental Exchange by 1.8% during the second quarter. Skylands Capital LLC now owns 64,150 shares of the financial services provider’s stock valued at $5,876,000 after buying an additional 1,150 shares in the last quarter. Mattern Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $513,000. Sciencast Management LP acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $2,634,000. Pacer Advisors Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $4,292,000. Finally, Chicago Capital LLC increased its holdings in shares of Intercontinental Exchange by 1.0% in the 2nd quarter. Chicago Capital LLC now owns 562,004 shares of the financial services provider’s stock valued at $51,480,000 after purchasing an additional 5,821 shares during the period. Institutional investors own 87.47% of the company’s stock.

In other news, Director William Jefferson Hague sold 733 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $96.32, for a total value of $70,602.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 100,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $95.54, for a total value of $9,554,000.00. The disclosure for this sale can be found here. Insiders sold 111,486 shares of company stock valued at $10,632,325 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

ICE has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price objective on shares of Intercontinental Exchange from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Co restated a “buy” rating on shares of Intercontinental Exchange in a report on Thursday. Citigroup upped their price target on shares of Intercontinental Exchange from $102.00 to $107.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Berenberg Bank raised Intercontinental Exchange from a “hold” rating to a “buy” rating and lifted their price objective for the company from $101.00 to $106.00 in a research report on Monday, April 20th. Finally, Oppenheimer lowered their target price on Intercontinental Exchange from $110.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and a consensus price target of $103.64.

ICE opened at $96.78 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $52.96 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The stock has a 50-day moving average of $93.21 and a 200-day moving average of $91.48. Intercontinental Exchange Inc has a 52-week low of $63.51 and a 52-week high of $101.93.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Intercontinental Exchange had a return on equity of 14.14% and a net margin of 29.01%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned $0.94 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange Inc will post 4.41 earnings per share for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

Featured Article: What are some reasons analysts would give stocks a buy rating?

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.