Intercontinental Exchange Inc (NYSE:ICE) announced a quarterly dividend on Wednesday, February 8th, Wall Street Journal reports. Investors of record on Thursday, December 14th will be given a dividend of 0.20 per share by the financial services provider on Friday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, December 12th.
Intercontinental Exchange has increased its dividend by an average of 73.6% annually over the last three years and has increased its dividend every year for the last 3 years. Intercontinental Exchange has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intercontinental Exchange to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 23.7%.
Shares of Intercontinental Exchange (NYSE ICE) traded up $0.04 during trading on Friday, reaching $70.56. 1,865,336 shares of the company’s stock were exchanged, compared to its average volume of 2,553,796. Intercontinental Exchange has a 12-month low of $55.79 and a 12-month high of $72.99. The company has a market cap of $41,256.04, a P/E ratio of 25.66, a PEG ratio of 2.61 and a beta of 0.73. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.
In related news, Director Jean Marc Forneri sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total transaction of $565,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $71.93, for a total transaction of $539,475.00. Following the sale, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,151,489.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,130 shares of company stock valued at $5,468,644. Company insiders own 1.50% of the company’s stock.
Intercontinental Exchange announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Several equities research analysts have weighed in on ICE shares. Argus raised their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Citigroup raised their price objective on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. UBS Group raised their target price on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Royal Bank of Canada raised their target price on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Finally, Barclays lifted their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $75.00.
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Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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