Intercontinental Exchange, Inc. (ICE) to Issue Quarterly Dividend of $0.45 on June 28th

Intercontinental Exchange, Inc. (NYSE:ICEGet Free Report) announced a quarterly dividend on Thursday, February 8th, RTT News reports. Investors of record on Thursday, June 13th will be paid 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 yield of 1.34%. The ex-dividend date is Thursday, June 13th.

Intercontinental Exchange has increased its dividend 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 27.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Intercontinental Exchange to earn $6.61 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 27.2%.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $133.86 on Tuesday. Intercontinental Exchange has a one year low of $104.49 and a one year high of $140.43. The stock has a market capitalization of $76.78 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 2.49 and a beta of 1.06. The company has a 50-day simple moving average of $133.74 and a 200-day simple moving average of $130.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange will post 5.96 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. 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, Argus reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Check Out Our Latest Research Report on Intercontinental Exchange

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total transaction of $307,411.68. Following the transaction, the director now directly owns 29,347 shares of the company’s stock, valued at $4,031,103.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,234 shares of company stock valued at $8,668,823. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Company Profile

(Get Free Report)

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.

See Also

Dividend History for Intercontinental Exchange (NYSE:ICE)

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