Corsair Capital Management L.P. Raises Holdings in S&P Global Inc. (NYSE:SPGI)

Corsair Capital Management L.P. grew its position in S&P Global Inc. (NYSE:SPGI) by 4,201.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,183 shares of the business services provider’s stock after buying an additional 18,737 shares during the quarter. S&P Global accounts for 2.3% of Corsair Capital Management L.P.’s holdings, making the stock its 14th largest holding. Corsair Capital Management L.P.’s holdings in S&P Global were worth $9,910,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SPGI. Northwest Investment Counselors LLC acquired a new position in S&P Global during the 3rd quarter valued at about $27,000. First Personal Financial Services acquired a new position in S&P Global during the 3rd quarter valued at about $29,000. Sachetta LLC increased its position in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in S&P Global during the 3rd quarter valued at about $31,000. Finally, HWG Holdings LP acquired a new position in S&P Global during the 2nd quarter valued at about $27,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. BMO Capital Markets reduced their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Robert W. Baird boosted their price target on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI began coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Trading Up 0.8 %

SPGI opened at $526.05 on Wednesday. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $533.29. The business has a fifty day simple moving average of $509.20 and a 200-day simple moving average of $483.76. The firm has a market cap of $163.23 billion, a P/E ratio of 46.07, a P/E/G ratio of 2.66 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period last year, the business posted $3.21 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.69%. S&P Global’s dividend payout ratio is currently 32.13%.

S&P Global Company Profile

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.