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

S&P Global Inc. (NYSE:SPGIGet Rating) declared a quarterly dividend on Wednesday, September 28th, RTT News reports. Investors of record on Monday, November 28th will be given a dividend of 0.85 per share by the business services provider on Monday, December 12th. This represents a $3.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, November 25th.

S&P Global has raised its dividend by an average of 15.5% annually over the last three years and has increased its dividend every year for the last 49 years. S&P Global has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect S&P Global to earn $13.09 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 26.0%.

S&P Global Stock Up 1.7 %

NYSE:SPGI opened at $358.27 on Thursday. The company has a market capitalization of $116.72 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.64 and a beta of 1.06. S&P Global has a one year low of $279.32 and a one year high of $484.21. The stock has a 50-day simple moving average of $320.76 and a 200 day simple moving average of $341.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 0.83.

S&P Global (NYSE:SPGIGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.14. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.91 billion. S&P Global had a return on equity of 12.47% and a net margin of 33.78%. Sell-side analysts predict that S&P Global will post 11.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPGI. Atlantic Securities raised shares of S&P Global from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $356.00 to $386.00 in a report on Monday, November 7th. Raymond James cut their target price on shares of S&P Global from $402.00 to $398.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Oppenheimer raised their target price on shares of S&P Global to $390.00 in a report on Tuesday, November 1st. Stifel Nicolaus cut their price target on S&P Global from $403.00 to $366.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $397.00 price target (down previously from $430.00) on shares of S&P Global in a report on Tuesday, October 25th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, S&P Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.69.

Institutional Investors Weigh In On S&P Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPGI. Synovus Financial Corp grew its position in S&P Global by 1.6% in the first 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 last quarter. Earnest Partners LLC grew its position in 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 in the last quarter. Laurel Wealth Advisors Inc. grew its position in 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 in the last quarter. Salem Investment Counselors Inc. grew its position in S&P Global by 11.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 557 shares of the business services provider’s stock worth $228,000 after purchasing an additional 57 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in S&P Global by 6.8% during the 1st quarter. Proficio Capital Partners LLC now owns 1,004 shares of the business services provider’s stock worth $412,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 88.15% of the company’s stock.

About S&P Global

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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.

Further Reading

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

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