Intercontinental Exchange, Inc. (NYSE:ICE) to Issue $0.38 Quarterly Dividend

Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) announced a quarterly dividend on Thursday, May 5th, RTT News reports. Investors of record on Wednesday, June 15th will be given a dividend of 0.38 per share by the financial services provider on Thursday, June 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, June 14th.

Intercontinental Exchange has raised its dividend payment by an average of 11.2% annually 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 24.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Exchange to earn $6.10 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 24.9%.

ICE stock opened at $101.63 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $56.96 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 2.24 and a beta of 0.88. The business has a fifty day simple moving average of $126.85 and a 200-day simple moving average of $129.76. Intercontinental Exchange has a 52 week low of $100.89 and a 52 week high of $139.79.

Intercontinental Exchange (NYSE:ICEGet Rating) last released its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Intercontinental Exchange had a return on equity of 13.62% and a net margin of 44.26%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the business posted $1.34 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange will post 5.62 earnings per share for the current fiscal year.

ICE has been the subject of several recent research reports. Rosenblatt Securities dropped their price objective on shares of Intercontinental Exchange from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Citigroup cut their price objective on Intercontinental Exchange from $160.00 to $152.00 in a research report on Wednesday, April 13th. Morgan Stanley upped their target price on Intercontinental Exchange from $145.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 13th. Zacks Investment Research lowered Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $137.00 target price for the company. in a research note on Friday, January 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $155.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $153.20.

In other Intercontinental Exchange news, COO Mark Wassersug sold 11,000 shares of the business’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $128.53, for a total value of $1,413,830.00. Following the sale, the chief operating officer now directly owns 27,229 shares in the company, valued at $3,499,743.37. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David S. Goone sold 36,570 shares of Intercontinental Exchange stock in a transaction on Friday, March 4th. The stock was sold at an average price of $135.02, for a total value of $4,937,681.40. The disclosure for this sale can be found here. Insiders sold 90,224 shares of company stock worth $11,688,307 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of ICE. Barclays PLC boosted its stake in Intercontinental Exchange by 7.8% during the 4th quarter. Barclays PLC now owns 1,823,600 shares of the financial services provider’s stock valued at $249,411,000 after purchasing an additional 131,969 shares during the period. NewEdge Advisors LLC grew its stake in shares of Intercontinental Exchange by 920.1% in the 4th quarter. NewEdge Advisors LLC now owns 19,678 shares of the financial services provider’s stock valued at $2,691,000 after purchasing an additional 17,749 shares during the period. Kingsview Wealth Management LLC grew its position in Intercontinental Exchange by 33.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 12,782 shares of the financial services provider’s stock valued at $1,748,000 after acquiring an additional 3,170 shares during the period. Toroso Investments LLC raised its stake in Intercontinental Exchange by 27.4% during the fourth quarter. Toroso Investments LLC now owns 11,780 shares of the financial services provider’s stock worth $1,611,000 after acquiring an additional 2,531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $341,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Intercontinental Exchange (Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Dividend History for Intercontinental Exchange (NYSE:ICE)

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