M&T Bank Corp lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 81,402 shares of the financial services provider’s stock after selling 6,280 shares during the period. M&T Bank Corp’s holdings in Intercontinental Exchange were worth $5,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. lifted its stake in shares of Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 32 shares during the period. Norway Savings Bank lifted its stake in shares of Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. lifted its stake in shares of Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,240 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $128,000. Finally, Guardian Life Insurance Co. of America lifted its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 16 shares during the period. Institutional investors own 89.74% of the company’s stock.

ICE has been the subject of several recent analyst reports. Royal Bank Of Canada set a $65.00 price objective on shares of Intercontinental Exchange and gave the company a “hold” rating in a research note on Tuesday, June 6th. BidaskClub upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Intercontinental Exchange in a research note on Monday, June 26th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $68.81.

In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at approximately $25,598,784.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $66.33, for a total transaction of $994,950.00. Following the completion of the sale, the insider now directly owns 384,971 shares of the company’s stock, valued at $25,535,126.43. The disclosure for this sale can be found here. Insiders sold a total of 137,420 shares of company stock valued at $8,987,176 over the last three months. 1.50% of the stock is owned by corporate insiders.

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Intercontinental Exchange Inc. (NYSE:ICE) opened at 67.05 on Friday. The firm’s 50-day moving average is $65.38 and its 200-day moving average is $62.86. The firm has a market cap of $7.71 billion, a PE ratio of 24.84 and a beta of 0.72. Intercontinental Exchange Inc. has a 12 month low of $52.27 and a 12 month high of $67.48.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current year.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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