Principal Financial Group Inc. Acquires 23,638 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Principal Financial Group Inc. lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,874 shares of the financial services provider’s stock after purchasing an additional 23,638 shares during the quarter. Principal Financial Group Inc.’s holdings in Intercontinental Exchange were worth $105,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quotient Wealth Partners LLC increased its holdings in Intercontinental Exchange by 12.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,934 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 208 shares in the last quarter. LRI Investments LLC raised its holdings in Intercontinental Exchange by 182.2% in the 2nd quarter. LRI Investments LLC now owns 1,033 shares of the financial services provider’s stock valued at $141,000 after buying an additional 667 shares during the last quarter. McAdam LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $203,000. Independence Bank of Kentucky grew its holdings in Intercontinental Exchange by 6.3% during the 2nd quarter. Independence Bank of Kentucky now owns 15,966 shares of the financial services provider’s stock worth $2,186,000 after acquiring an additional 952 shares during the last quarter. Finally, AMG National Trust Bank increased its position in Intercontinental Exchange by 8.6% in the 2nd quarter. AMG National Trust Bank now owns 4,239 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 335 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 1.4 %

Intercontinental Exchange stock opened at $150.31 on Friday. The company has a market capitalization of $86.30 billion, a PE ratio of 35.62, a PEG ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $122.65 and a 12-month high of $167.99. The firm’s fifty day moving average is $158.88 and its 200 day moving average is $153.86. 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) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their price objective on Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,581 shares of company stock valued at $1,523,078. 1.10% of the stock is owned by company insiders.

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.