Principal Financial Group Inc. Sells 5,400 Shares of Intercontinental Exchange Inc. $ICE

Principal Financial Group Inc. trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 634,031 shares of the financial services provider’s stock after selling 5,400 shares during the period. Principal Financial Group Inc. owned about 0.11% of Intercontinental Exchange worth $99,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ICE. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC increased its holdings in Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC raised its position in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. TD Cowen cut their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Finally, Barclays reduced their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $181.58.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock valued at $2,046,324 over the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.6%

NYSE:ICE opened at $139.79 on Thursday. The firm has a fifty day simple moving average of $141.45 and a 200-day simple moving average of $155.04. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $79.05 billion, a P/E ratio of 20.35, a PEG ratio of 1.41 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.