S&P Global Inc. (NYSE:SPGI – Get Free Report) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Investors of record on Tuesday, November 26th will be paid a dividend of 0.91 per share by the business services provider on Wednesday, December 11th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th.
S&P Global has increased its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 52 consecutive years. S&P Global has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect S&P Global to earn $16.15 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 22.5%.
S&P Global Stock Down 0.7 %
Shares of SPGI stock traded down $3.38 during midday trading on Thursday, reaching $511.44. 130,312 shares of the stock were exchanged, compared to its average volume of 1,215,525. S&P Global has a 1 year low of $340.49 and a 1 year high of $528.02. The firm has a market cap of $160.08 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company’s 50 day moving average is $500.51 and its two-hundred day moving average is $456.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.
Analysts Set New Price Targets
SPGI has been the topic of several research reports. Royal Bank of Canada upped their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group raised their price objective on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley increased their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $548.18.
Insider Transactions at S&P Global
In other news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the transaction, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock valued at $8,645,727 in the last 90 days. Insiders own 0.10% of the company’s stock.
About S&P Global
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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.
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