S&P Global (NYSE:SPGI) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of S&P Global (NYSE:SPGIFree Report) in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has a $500.00 price target on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Raymond James increased their price target on S&P Global from $422.00 to $452.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. TheStreet upgraded S&P Global from a c+ rating to a b- rating in a research report on Monday, November 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global presently has a consensus rating of Moderate Buy and a consensus price target of $446.25.

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S&P Global Stock Down 1.9 %

NYSE:SPGI opened at $429.69 on Friday. The company’s 50 day moving average is $437.72 and its two-hundred day moving average is $402.61. The company has a market cap of $136.13 billion, a PE ratio of 52.21, a P/E/G ratio of 2.36 and a beta of 1.18. S&P Global has a twelve month low of $321.14 and a twelve month high of $461.16. The company has a current ratio of 0.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGIGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts anticipate that S&P Global will post 14.11 EPS for the current year.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.90. S&P Global’s payout ratio is presently 43.74%.

Insider Activity

In related news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $405.28, for a total value of $2,431,680.00. Following the sale, the chief executive officer now directly owns 163,613 shares in the company, valued at approximately $66,309,076.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of S&P Global by 2.0% in the 2nd quarter. State Street Corp now owns 14,434,798 shares of the business services provider’s stock worth $5,786,766,000 after acquiring an additional 282,966 shares during the last quarter. Wellington Management Group LLP raised its stake in S&P Global by 13.2% during the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after purchasing an additional 881,215 shares during the period. Geode Capital Management LLC boosted its holdings in S&P Global by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 5,959,972 shares of the business services provider’s stock valued at $2,381,982,000 after purchasing an additional 19,422 shares during the last quarter. Morgan Stanley grew its stake in shares of S&P Global by 8.2% in the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after buying an additional 428,737 shares during the period. Finally, Norges Bank purchased a new stake in shares of S&P Global during the 4th quarter valued at approximately $1,652,862,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

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 through six segments: 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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