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

Intercontinental Exchange, Inc. (NYSE:ICEGet Free Report) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Monday, December 16th will be paid a dividend of 0.45 per share by the financial services provider on Tuesday, December 31st. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%.

Intercontinental Exchange has increased its dividend by an average of 11.9% per year over the last three years. Intercontinental Exchange has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Intercontinental Exchange to earn $6.83 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 26.4%.

Intercontinental Exchange Trading Down 6.2 %

Shares of NYSE ICE opened at $156.23 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $162.14 and a 200 day moving average of $147.98. Intercontinental Exchange has a 1 year low of $104.91 and a 1 year high of $167.99. The stock has a market cap of $89.70 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange will post 6.12 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, October 4th. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $173.93.

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Intercontinental Exchange Company Profile

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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.

Further Reading

Dividend History for Intercontinental Exchange (NYSE:ICE)

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