Intercontinental Exchange, Inc. (ICE) to Issue Quarterly Dividend of $0.45 on September 30th

Intercontinental Exchange, Inc. (NYSE:ICE) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Investors of record on Monday, September 16th will be paid a dividend of 0.45 per share by the financial services provider on Monday, September 30th. This represents a $1.80 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, September 16th.

Intercontinental Exchange has raised its dividend by an average of 11.9% annually over the last three years. Intercontinental Exchange has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Exchange to earn $6.67 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 27.0%.

Intercontinental Exchange Stock Up 0.1 %

NYSE:ICE opened at $161.36 on Friday. The firm has a market capitalization of $92.55 billion, a P/E ratio of 37.01, a PEG ratio of 2.81 and a beta of 1.08. The company’s fifty day moving average price is $154.20 and its 200-day moving average price is $141.97. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Citigroup increased their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.93.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,096 shares of company stock valued at $9,593,983. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.