S&P Global Inc. (NYSE:SPGI – Get Rating) announced a quarterly dividend on Wednesday, June 22nd, RTT News reports. Shareholders of record on Friday, August 26th will be paid a dividend of 0.85 per share by the business services provider on Monday, September 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.05%.
S&P Global has increased its dividend by an average of 15.5% annually over the last three years and has increased its dividend annually for the last 50 consecutive years. S&P Global has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect S&P Global to earn $15.28 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 22.3%.
Shares of NYSE SPGI traded up $5.15 during mid-day trading on Wednesday, hitting $325.17. 2,001,326 shares of the stock traded hands, compared to its average volume of 2,510,741. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.38 and a quick ratio of 1.38. S&P Global has a twelve month low of $311.87 and a twelve month high of $484.21. The company has a market cap of $110.50 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The firm has a 50 day simple moving average of $350.98 and a two-hundred day simple moving average of $396.74.
S&P Global (NYSE:SPGI – Get Rating) last announced its earnings results on Tuesday, May 3rd. The business services provider reported $2.89 EPS for the quarter, missing the consensus estimate of $2.99 by ($0.10). S&P Global had a return on equity of 31.07% and a net margin of 40.43%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the firm posted $3.39 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that S&P Global will post 12.75 earnings per share for the current fiscal year.
SPGI has been the topic of a number of research analyst reports. Credit Suisse Group cut their target price on S&P Global from $495.00 to $425.00 in a research note on Wednesday, May 4th. Royal Bank of Canada dropped their target price on S&P Global from $540.00 to $434.00 in a research report on Thursday, June 2nd. Robert W. Baird dropped their target price on S&P Global from $472.00 to $414.00 and set an “outperform” rating on the stock in a research report on Thursday, June 2nd. StockNews.com began coverage on S&P Global in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group lowered their price target on S&P Global from $440.00 to $416.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $429.60.
In related news, EVP Nancy Luquette sold 2,287 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $333.74, for a total transaction of $763,263.38. Following the transaction, the executive vice president now directly owns 5,667 shares in the company, valued at $1,891,304.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dimitra Manis sold 2,000 shares of S&P Global stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $336.53, for a total transaction of $673,060.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $1,628,468.67. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its holdings in shares of S&P Global by 1.6% in the 1st quarter. Synovus Financial Corp now owns 2,239 shares of the business services provider’s stock valued at $919,000 after purchasing an additional 36 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of S&P Global by 51.6% during the 1st quarter. Earnest Partners LLC now owns 141 shares of the business services provider’s stock worth $58,000 after purchasing an additional 48 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its stake in shares of S&P Global by 2.4% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 2,331 shares of the business services provider’s stock worth $956,000 after purchasing an additional 55 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of S&P Global by 11.4% in the first quarter. Salem Investment Counselors Inc. now owns 557 shares of the business services provider’s stock worth $228,000 after acquiring an additional 57 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of S&P Global by 6.8% in the first quarter. Proficio Capital Partners LLC now owns 1,004 shares of the business services provider’s stock worth $412,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.
About S&P Global (Get Rating)
S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.