Intercontinental Exchange, Inc. (NYSE:ICE) to Issue Quarterly Dividend of $0.48

Intercontinental Exchange, Inc. (NYSE:ICE) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.48 per share by the financial services provider on Monday, March 31st. This represents a $1.92 annualized dividend and a yield of 1.15%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.45.

Intercontinental Exchange has raised its dividend by an average of 10.9% annually over the last three years. Intercontinental Exchange has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $6.63 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 27.1%.

Intercontinental Exchange Price Performance

ICE opened at $167.37 on Friday. The company has a market capitalization of $96.10 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 3.06 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $153.11 and a 200-day moving average price of $156.74. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $169.75.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Equities analysts expect that Intercontinental Exchange will post 6.05 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Morgan Stanley boosted 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 report on Thursday, October 17th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. Finally, Barclays reduced their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

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.