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

S&P Global Inc. (NYSE:SPGIGet Rating) announced a quarterly dividend on Monday, February 28th, Zacks reports. Investors of record on Friday, May 27th will be given a dividend of 0.85 per share by the business services provider on Friday, June 10th. This represents a $3.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.77.

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 payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect S&P Global to earn $15.60 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 21.8%.

SPGI stock opened at $350.52 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50-day moving average price of $381.72 and a 200 day moving average price of $414.51. The company has a market capitalization of $119.12 billion, a P/E ratio of 25.29, a PEG ratio of 2.12 and a beta of 1.05. S&P Global has a 1-year low of $322.20 and a 1-year high of $484.21.

S&P Global (NYSE:SPGIGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $2.89 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($0.10). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $3.04 billion. S&P Global had a net margin of 40.43% and a return on equity of 31.07%. The business’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.39 earnings per share. On average, analysts anticipate that S&P Global will post 13.08 earnings per share for the current fiscal year.

A number of equities analysts have commented on the stock. Barclays reiterated an “overweight” rating and issued a $500.00 target price on shares of S&P Global in a report on Tuesday, March 8th. StockNews.com assumed coverage on shares of S&P Global in a report on Thursday, March 31st. They issued a “hold” rating for the company. Redburn Partners assumed coverage on shares of S&P Global in a report on Tuesday, May 17th. They issued a “buy” rating for the company. Raymond James reduced their target price on shares of S&P Global from $497.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of S&P Global from $515.00 to $483.00 and set a “buy” rating for the company in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $467.57.

In other S&P Global news, insider Dimitra Manis sold 2,636 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $405.41, for a total value of $1,068,660.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven J. Kemps sold 1,591 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $407.23, for a total value of $647,902.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,567 shares of company stock worth $5,914,500. 0.10% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of S&P Global by 1.6% during the 1st quarter. Synovus Financial Corp now owns 2,239 shares of the business services provider’s stock worth $919,000 after buying an additional 36 shares during the period. Earnest Partners LLC raised 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 buying an additional 48 shares during the period. Laurel Wealth Advisors Inc. raised its stake in S&P Global by 2.4% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 2,331 shares of the business services provider’s stock valued at $956,000 after purchasing an additional 55 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in S&P Global by 11.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 557 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 57 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in S&P Global by 6.8% in the 1st quarter. Proficio Capital Partners LLC now owns 1,004 shares of the business services provider’s stock valued at $412,000 after purchasing an additional 64 shares during the last quarter. 94.26% of the stock is owned by institutional investors and hedge funds.

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.

See Also

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

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