Intercontinental Exchange, Inc. (ICE) to Issue Quarterly Dividend of $0.48 on December 31st

Intercontinental Exchange, Inc. (NYSE:ICE) announced a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Stockholders of record on Tuesday, December 16th will be given a dividend of 0.48 per share by the financial services provider on Wednesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, December 16th.

Intercontinental Exchange has raised its dividend payment by an average of 10.9% annually over the last three years. Intercontinental Exchange has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Intercontinental Exchange to earn $7.37 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 26.1%.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE opened at $166.96 on Wednesday. The firm has a fifty day simple moving average of $153.53 and a two-hundred day simple moving average of $157.19. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $169.75. The stock has a market capitalization of $95.93 billion, a P/E ratio of 34.93, a PEG ratio of 3.21 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts anticipate that Intercontinental Exchange will post 6.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ICE shares. Morgan Stanley lifted their target price 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. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the sale, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock worth $5,535,650 over the last three months. 1.10% of the stock is currently 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.