Intercontinental Exchange, Inc. Announces Quarterly Dividend of $0.45 (NYSE:ICE)

Intercontinental Exchange, Inc. (NYSE:ICE) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Thursday, June 13th will be paid a dividend of 0.45 per share by the financial services provider on Friday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th.

Intercontinental Exchange has increased its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 8 years. Intercontinental Exchange has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Intercontinental Exchange to earn $6.60 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 27.3%.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $130.50 on Friday. The business’s 50-day simple moving average is $135.17 and its 200 day simple moving average is $125.68. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 2.08 and a beta of 1.02. Intercontinental Exchange has a 12-month low of $103.81 and a 12-month high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICE. Bank of America reduced their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Morgan Stanley raised their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.92.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Company 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.