Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.48 per share by the financial services provider on Monday, March 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.45.
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 24.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Intercontinental Exchange to earn $6.63 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 27.1%.
Intercontinental Exchange Price Performance
Shares of ICE stock opened at $160.71 on Thursday. The business’s fifty day moving average is $153.11 and its 200 day moving average is $156.74. The stock has a market cap of $92.28 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 3.06 and a beta of 1.11. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.
Analysts Set New Price Targets
Several research firms have recently commented on ICE. Keefe, Bruyette & Woods lowered their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $175.27.
Check Out Our Latest Report on Intercontinental Exchange
Insiders Place Their Bets
In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by corporate insiders.
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.
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