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

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 given a dividend of 0.45 per share by the financial services provider on Friday, June 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.43%.

Intercontinental Exchange has raised its dividend by an average of 11.9% per year over the last three years and has raised its dividend every year for the last 8 years. Intercontinental Exchange has a dividend payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.9 %

Shares of NYSE:ICE traded down $2.41 during mid-day trading on Thursday, hitting $126.27. The company had a trading volume of 1,784,369 shares, compared to its average volume of 2,375,805. Intercontinental Exchange has a one year low of $103.81 and a one year high of $140.43. The company has a market capitalization of $72.30 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The firm has a fifty day moving average price of $135.42 and a 200 day moving average price of $125.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. As a group, research analysts forecast that Intercontinental Exchange will post 5.95 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Rosenblatt Securities raised their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Barclays boosted their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 over the last three months. 1.10% of the stock is currently owned by insiders.

About Intercontinental Exchange

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.