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

M&T Bank Corp increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 33.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,689 shares of the financial services provider's stock after purchasing 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 quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. grew its stake in Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider's stock worth $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider's stock worth $49,000 after purchasing an additional 63 shares during the last quarter. Integrated Advisors Network LLC boosted its position in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider's stock worth $275,000 after purchasing an additional 66 shares in the last quarter. American National Bank increased its position in Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider's stock valued at $78,000 after buying an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider's stock worth $192,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ICE. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research report on Monday, November 11th. 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 research report on Monday. Piper Sandler lifted their price target 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. TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a "buy" rating and a $182.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $175.07.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company's stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,901 shares of company stock worth $1,582,542. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 1.0 %

ICE stock traded down $1.63 during mid-day trading on Thursday, hitting $156.55. 1,919,733 shares of the company were exchanged, compared to its average volume of 2,602,109. The business has a fifty day simple moving average of $160.18 and a 200-day simple moving average of $153.08. The firm has a market capitalization of $89.89 billion, a P/E ratio of 37.49, a PEG ratio of 2.58 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $117.49 and a 12-month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.