Intercontinental Exchange, Inc. (NYSE:ICE) Announces $0.42 Quarterly Dividend

Intercontinental Exchange, Inc. (NYSE:ICE) declared a quarterly dividend on Thursday, August 3rd, RTT News reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.42 per share by the financial services provider on Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 14th.

Intercontinental Exchange has increased its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Intercontinental Exchange has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intercontinental Exchange to earn $6.09 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 27.6%.

Intercontinental Exchange Trading Up 0.8 %

Shares of NYSE ICE opened at $115.98 on Wednesday. Intercontinental Exchange has a 12-month low of $88.60 and a 12-month high of $118.79. The company has a market cap of $64.98 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $115.15 and its 200 day simple moving average is $109.30.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 17.64%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. Equities research analysts expect that Intercontinental Exchange will post 5.65 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.43, for a total transaction of $57,715.00. Following the completion of the transaction, the chief financial officer now owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $115.43, for a total transaction of $57,715.00. Following the transaction, the chief financial officer now owns 15,525 shares of the company’s stock, valued at $1,792,050.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martha A. Tirinnanzi sold 496 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $113.56, for a total transaction of $56,325.76. Following the transaction, the director now owns 2,878 shares of the company’s stock, valued at $326,825.68. The disclosure for this sale can be found here. Insiders sold 7,136 shares of company stock valued at $819,994 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds have recently made changes to their positions in the business. First Capital Advisors Group LLC. bought a new stake in Intercontinental Exchange in the second quarter valued at about $35,000. Almanack Investment Partners LLC. acquired a new stake in Intercontinental Exchange during the third quarter valued at approximately $48,000. Compass Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $57,000. Sunbelt Securities Inc. acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $62,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Intercontinental Exchange by 11,150.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 675 shares of the financial services provider’s stock worth $76,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ICE. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $125.00 to $135.00 in a research note on Wednesday, July 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. StockNews.com initiated coverage on Intercontinental Exchange in a research note on Thursday, August 17th. They set a “hold” rating for the company. Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $117.00 to $130.00 in a report on Friday, August 4th. Finally, Barclays reduced their target price on Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

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.