M&T Bank Corp Has $7.50 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

M&T Bank Corp increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 33.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,689 shares of the financial services provider's stock after acquiring an additional 11,648 shares during the period. M&T Bank Corp's holdings in Intercontinental Exchange were worth $7,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AMG National Trust Bank increased its stake in shares of Intercontinental Exchange by 8.6% in the second quarter. AMG National Trust Bank now owns 4,239 shares of the financial services provider's stock worth $580,000 after acquiring an additional 335 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of Intercontinental Exchange by 59.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 3,619 shares of the financial services provider's stock worth $495,000 after purchasing an additional 1,347 shares in the last quarter. WealthShield Partners LLC lifted its holdings in shares of Intercontinental Exchange by 6.8% during the 2nd quarter. WealthShield Partners LLC now owns 24,361 shares of the financial services provider's stock valued at $3,335,000 after buying an additional 1,544 shares during the last quarter. Simmons Bank grew its stake in shares of Intercontinental Exchange by 3.5% in the 2nd quarter. Simmons Bank now owns 29,026 shares of the financial services provider's stock valued at $3,973,000 after buying an additional 971 shares in the last quarter. Finally, Kintegral Advisory LLC increased its holdings in Intercontinental Exchange by 6.8% in the second quarter. Kintegral Advisory LLC now owns 13,058 shares of the financial services provider's stock worth $1,788,000 after buying an additional 835 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.80 during mid-day trading on Monday, reaching $149.51. The company had a trading volume of 802,757 shares, compared to its average volume of 2,629,665. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $85.85 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.61 and a beta of 1.08. The company has a 50 day moving average of $158.88 and a 200-day moving average of $153.99. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Barclays upped their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Finally, Raymond James lowered Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.07.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Stuart Glen Williams sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company's stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,581 shares of company stock worth $1,523,078. Company insiders own 1.10% of the company's stock.

Intercontinental Exchange 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.