M&T Bank Corp Sells 6,003 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

M&T Bank Corp decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,874 shares of the financial services provider's stock after selling 6,003 shares during the quarter. M&T Bank Corp's holdings in Intercontinental Exchange were worth $7,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ICE. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after buying an additional 538,670 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada lifted its stake in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Norges Bank bought a new position in Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp lifted its stake in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after buying an additional 655,247 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director owned 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,749 shares of company stock valued at $40,942,387. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays lifted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $191.92.

Intercontinental Exchange Price Performance

Shares of ICE opened at $181.88 on Thursday. The company has a market cap of $104.33 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 1.95 and a beta of 1.11. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $183.99. The company's fifty day simple moving average is $178.11 and its 200 day simple moving average is $167.17. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

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 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 the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

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.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.