Alerus Financial NA Reduces Position in S&P Global Inc. (NYSE:SPGI)

Alerus Financial NA lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,601 shares of the business services provider’s stock after selling 597 shares during the quarter. Alerus Financial NA’s holdings in S&P Global were worth $8,060,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after purchasing an additional 466,757 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of S&P Global in the third quarter worth about $224,976,000. FMR LLC boosted its position in shares of S&P Global by 6.6% in the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after acquiring an additional 369,598 shares during the period. Assenagon Asset Management S.A. grew its stake in S&P Global by 352.2% during the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after acquiring an additional 360,909 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Down 0.1 %

Shares of SPGI opened at $522.51 on Friday. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29. The firm has a market cap of $162.13 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 2.67 and a beta of 1.18. The firm has a 50 day moving average price of $509.21 and a 200-day moving average price of $485.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94.

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

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 yield of 0.70%. S&P Global’s payout ratio is 32.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPGI. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. BMO Capital Markets cut their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $571.31.

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.