Intercontinental Exchange (ICE) Declares $0.42 Dividend

Intercontinental Exchange said on February 2, 2023 that its board of directors declared a regular quarterly dividend of $0.42 per share ($1.68 annualized). Shareholders of record as of March 16, 2023 will receive the payment on March 31, 2023. Previously, the company paid $0.38 per share.

At the current share price of $108.33 / share, the stock's dividend yield is 1.55%. Looking back five years and taking a sample every week, the average dividend yield has been 1.26%, the lowest has been 0.96%, and the highest has been 1.80%. The standard deviation of yields is 0.16 (n=235).

The current dividend yield is 1.84 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 21.33% Upside

As of February 3, 2023, the average one-year price target for Intercontinental Exchange is $131.43. The forecasts range from a low of $111.10 to a high of $172.20. The average price target represents an increase of 21.33% from its latest reported closing price of $108.33.

The projected annual revenue for Intercontinental Exchange is $7,850MM, an increase of 6.60%. The projected annual EPS is $5.73, an increase of 25.79%.

Fund Sentiment

There are 2168 funds or institutions reporting positions in Intercontinental Exchange. This is a decrease of 22 owner(s) or 1.00%.

Average portfolio weight of all funds dedicated to US:ICE is 0.4830%, an increase of 1.5514%. Total shares owned by institutions increased in the last three months by 0.41% to 562,775K shares.

What are large shareholders doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 16,664,996 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 16,438,878 shares, representing an increase of 1.36%. The firm increased its portfolio allocation in ICE by 1.53% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 12,659,526 shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 12,357,916 shares, representing an increase of 2.38%. The firm increased its portfolio allocation in ICE by 1.77% over the last quarter.

T. Rowe Price Investment Management holds 11,760,106 shares representing 2.11% ownership of the company.

Lazard Asset Management holds 10,368,025 shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 10,494,784 shares, representing a decrease of 1.22%. The firm increased its portfolio allocation in ICE by 2.54% over the last quarter.

Geode Capital Management holds 10,157,196 shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 9,997,533 shares, representing an increase of 1.57%. The firm increased its portfolio allocation in ICE by 1.18% over the last quarter.

Intercontinental Exchange Background Information
(This description is provided by the company.)

ICE Mortgage Technology, a division of Intercontinental Exchange, Inc., combines the innovation and expertise of Ellie Mae, Simplifile and MERS to automate the entire mortgage process from consumer engagement through loan registration and every step and task in between. Ellie Mae, as part of ICE Mortgage Technology, is the leading cloud-based loan origination platform provider for the mortgage industry with solutions that enable lenders to originate more loans, lower origination costs and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

This story originally appeared on Fintel.