Intercontinental Exchange Inc (ICE) To Go Ex-Dividend on December 13th
Intercontinental Exchange Inc (NYSE:ICE) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.24 per share by the financial services provider on Monday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 13th.
Intercontinental Exchange has increased its dividend payment by an average of 15.4% annually over the last three years and has raised its dividend every year for the last 4 years. Intercontinental Exchange has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $3.87 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 24.8%.
Shares of ICE stock opened at $78.55 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Intercontinental Exchange has a twelve month low of $66.92 and a twelve month high of $82.65. The company has a market capitalization of $45.15 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.27 and a beta of 0.50.
A number of research analysts recently weighed in on ICE shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $91.00 price objective on shares of Intercontinental Exchange in a research note on Friday, October 12th. They noted that the move was a valuation call. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. FIX started coverage on Intercontinental Exchange in a research note on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price objective on the stock. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Rosenblatt Securities assumed coverage on Intercontinental Exchange in a report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $84.50.
Intercontinental Exchange declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 31st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $80.14, for a total value of $96,168.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $79.75, for a total value of $2,791,250.00. The disclosure for this sale can be found here. Insiders sold a total of 145,166 shares of company stock worth $11,289,285 in the last ninety days. Insiders own 1.50% of the company’s stock.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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