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

Intercontinental Exchange, Inc. (NYSE:ICE) declared 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 dividend on an annualized basis and a dividend yield of 1.43%.

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

Shares of ICE traded down $2.41 during trading hours 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. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. 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. Intercontinental Exchange has a one year low of $103.81 and a one year high of $140.43. The company’s fifty day moving average price is $135.42 and its two-hundred day moving average price is $125.67.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange will post 5.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Rosenblatt Securities increased their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. UBS Group increased their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’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 completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is 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.