M&T Bank Corp Lowers Stake in Intercontinental Exchange Inc. (NYSE:ICE)

M&T Bank Corp lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,874 shares of the financial services provider's stock after selling 6,003 shares during the period. M&T Bank Corp's holdings in Intercontinental Exchange were worth $7,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the period. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. boosted its position in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays boosted their price target on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

Insider Activity at Intercontinental Exchange

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

Intercontinental Exchange Price Performance

Shares of ICE traded down $1.37 during trading hours on Friday, reaching $180.45. 1,576,878 shares of the company traded hands, compared to its average volume of 2,973,335. The stock has a market capitalization of $103.51 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The stock has a fifty day simple moving average of $178.47 and a 200 day simple moving average of $167.60. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion during 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 company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 earnings per share. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared 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 yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 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.