Principal Financial Group Inc. Trims Stock Position in Intercontinental Exchange Inc. $ICE

Principal Financial Group Inc. decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 634,031 shares of the financial services provider’s stock after selling 5,400 shares during the quarter. Principal Financial Group Inc.’s holdings in Intercontinental Exchange were worth $99,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Steph & Co. lifted its stake in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter worth $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. UBS Group dropped their price objective on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Barclays cut 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. Finally, Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. One investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Trading Up 1.6%

Shares of ICE opened at $139.79 on Thursday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. The firm has a market capitalization of $79.05 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.41 and a beta of 0.94. The firm has a 50-day moving average price of $141.45 and a 200 day moving average price of $155.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

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.