S&P Global Inc. Declares Quarterly Dividend of $0.85 (NYSE:SPGI)

S&P Global Inc. (NYSE:SPGIGet Rating) announced a quarterly dividend on Wednesday, June 22nd, RTT News reports. Investors 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 yield of 1.05%.

S&P Global has increased its dividend payment by an average of 15.5% per year over the last three years and has increased its dividend annually for the last 50 consecutive years. S&P Global has a 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 opened at $325.17 on Thursday. The business’s 50 day moving average price is $349.56 and its 200 day moving average price is $396.24. The firm has a market cap of $110.50 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.09 and a beta of 1.06. S&P Global has a 52 week low of $311.87 and a 52 week high of $484.21. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.28.

S&P Global (NYSE:SPGIGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The business services provider reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.11). S&P Global had a net margin of 40.43% and a return on equity of 31.07%. The company had revenue of $2.39 billion during 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 company’s revenue was up 18.5% compared to the same quarter last year. As a group, research analysts expect that S&P Global will post 12.75 earnings per share for the current year.

In related news, EVP Nancy Luquette sold 2,287 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $333.74, for a total transaction of $763,263.38. Following the completion of the transaction, the executive vice president now directly owns 5,667 shares in the company, valued at approximately $1,891,304.58. The sale 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 the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $336.53, for a total value of $673,060.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, 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.

A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its position in S&P Global by 39.5% in the 1st quarter. Northern Trust Corp now owns 3,727,874 shares of the business services provider’s stock valued at $1,529,100,000 after purchasing an additional 1,056,097 shares in the last quarter. Clearbridge Investments LLC raised its position in S&P Global by 11,089.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,230,227 shares of the business services provider’s stock valued at $914,794,000 after purchasing an additional 2,210,296 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in S&P Global by 49.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,801,772 shares of the business services provider’s stock valued at $739,051,000 after purchasing an additional 594,474 shares in the last quarter. Lazard Asset Management LLC raised its position in S&P Global by 27.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,699,174 shares of the business services provider’s stock valued at $696,965,000 after purchasing an additional 370,263 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in S&P Global by 89.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,226,098 shares of the business services provider’s stock valued at $502,921,000 after purchasing an additional 577,305 shares in the last quarter. 94.26% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on SPGI shares. Royal Bank of Canada reduced their target price on S&P Global from $540.00 to $434.00 in a research note on Thursday, June 2nd. Morgan Stanley reduced their target price on S&P Global from $419.00 to $401.00 and set an “overweight” rating for the company in a research note on Thursday, June 2nd. Robert W. Baird reduced their target price on S&P Global from $472.00 to $414.00 and set an “outperform” rating for the company in a research note on Thursday, June 2nd. BMO Capital Markets reduced their target price on S&P Global from $433.00 to $365.00 in a research note on Thursday, June 2nd. Finally, Jefferies Financial Group reduced their price objective on S&P Global from $440.00 to $416.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $429.60.

S&P Global Company Profile (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.

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Dividend History for S&P Global (NYSE:SPGI)

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