M&T Bank Corp Has $15.59 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• M&T Bank Corp increased its stake in Intercontinental Exchange by 174.8% in Q4, buying 61,219 shares to hold 96,241 shares valued at about $15.59 million.
• Corporate insiders have been significant net sellers recently—CEO Jeffrey C. Sprecher sold 150,000 shares for roughly $23.25 million, and insiders sold 348,418 shares totaling about $54.2 million over the last three months.
• ICE beat quarterly estimates with EPS of $1.71 (vs. $1.67 est.) and revenue of $3.14 billion (vs. $2.51 billion est.), declared a $0.52 quarterly dividend, and carries an average analyst rating of Buy with a $193.80 price target.

M&T Bank Corp raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 174.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,241 shares of the financial services provider's stock after buying an additional 61,219 shares during the quarter. M&T Bank Corp's holdings in Intercontinental Exchange were worth $15,587,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ICE. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC raised its position in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after buying an additional 6,373 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $157.44 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $89.18 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The firm has a 50-day moving average price of $159.83 and a 200 day moving average price of $160.06.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business posted $1.52 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.06 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio is 36.05%.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company's stock, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the transaction, the chief executive officer owned 1,651,705 shares of the company's stock, valued at $256,014,275. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 348,418 shares of company stock valued at $54,196,631. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. Raymond James Financial reaffirmed a "strong-buy" rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. UBS Group reaffirmed a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Buy" and an average price target of $193.80.

About Intercontinental Exchange

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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