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S&P Global (NYSE:SPGI) Hits New 1-Year High - Here's Why

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Key Points

  • S&P Global Inc. shares recently hit a new 52-week high of $566.55, indicating strong market performance with a trading volume of 285,419 shares.
  • Analysts have upgraded their ratings for S&P Global, with targets raised by UBS Group to $620.00, and Wells Fargo to $660.00, resulting in an overall "Moderate Buy" rating from the majority of analysts.
  • The company announced a quarterly dividend of $0.96 per share, which has a yield of 0.7%, reflecting a payout ratio of 29.54%.
  • Need better tools to track S&P Global? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

S&P Global Inc. (NYSE:SPGI - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $566.55 and last traded at $565.52, with a volume of 285419 shares traded. The stock had previously closed at $559.06.

Wall Street Analyst Weigh In

SPGI has been the topic of several analyst reports. UBS Group upped their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. BMO Capital Markets lifted their price target on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Finally, Stifel Nicolaus lowered their price target on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $611.69.

View Our Latest Report on SPGI

S&P Global Trading Up 0.6%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $527.21 and a 200 day moving average of $511.67. The company has a market cap of $171.74 billion, a P/E ratio of 43.27, a price-to-earnings-growth ratio of 2.98 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company earned $4.04 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's payout ratio is presently 29.54%.

Hedge Funds Weigh In On S&P Global

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in S&P Global in the 2nd quarter worth about $2,188,945,000. Valeo Financial Advisors LLC grew its position in S&P Global by 70,734.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider's stock worth $1,670,671,000 after purchasing an additional 3,163,938 shares in the last quarter. Nuveen LLC bought a new stake in S&P Global in the 1st quarter worth about $1,103,665,000. GAMMA Investing LLC grew its position in S&P Global by 60,982.3% in the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in S&P Global by 70.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after purchasing an additional 670,392 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

About S&P Global

(Get Free Report)

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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