Intercontinental Exchange, Inc. (ICE) To Go Ex-Dividend on June 13th

Intercontinental Exchange, Inc. (NYSE:ICE) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders 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 dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th.

Intercontinental Exchange has raised its dividend payment by an average of 11.9% per year over the last three years and has raised its dividend every year for the last 8 years. Intercontinental Exchange has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Exchange to earn $6.60 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 27.3%.

Intercontinental Exchange Trading Up 3.1 %

Shares of Intercontinental Exchange stock opened at $130.50 on Friday. The firm has a market cap of $74.73 billion, a PE ratio of 29.93, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The business’s fifty day moving average is $135.17 and its two-hundred day moving average is $125.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. Analysts anticipate that Intercontinental Exchange will post 5.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ICE shares. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America dropped their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Barclays reduced their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company Profile

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.