Principal Financial Group Inc. Has $105.52 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Principal Financial Group Inc. increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% in the 3rd quarter, according to its most recent disclosure 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. owned approximately 0.11% of Intercontinental Exchange worth $105,520,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange during the second quarter worth about $25,000. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $150.31 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day simple moving average of $158.88 and a 200 day simple moving average of $153.86. Intercontinental Exchange, Inc. has a 1 year low of $122.65 and a 1 year high of $167.99. The company has a market capitalization of $86.30 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business 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%. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.07.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the 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 sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 4.37 % 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 valued at $1,523,078. 1.10% of the stock is currently 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.