Intercontinental Exchange, Inc. (NYSE:ICE) Declares Quarterly Dividend of $0.48

Intercontinental Exchange, Inc. (NYSE:ICE) declared a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Shareholders of record on Tuesday, December 16th will be given a dividend of 0.48 per share by the financial services provider on Wednesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th.

Intercontinental Exchange has raised its dividend by an average of 10.9% annually over the last three years. Intercontinental Exchange has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $7.37 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 26.1%.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $167.28 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $169.75. The firm has a fifty day moving average of $153.35 and a two-hundred day moving average of $157.06. The stock has a market capitalization of $96.05 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 3.21 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities research analysts predict that Intercontinental Exchange will post 6.63 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 10,580 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,358 shares of company stock valued at $5,535,650. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ICE shares. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday. Barclays raised their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $178.80.

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.