S&P Global Inc. (NYSE:SPGI) Stock Position Reduced by State of Michigan Retirement System

State of Michigan Retirement System decreased its stake in S&P Global Inc. (NYSE:SPGI) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,053 shares of the business services provider’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in S&P Global were worth $37,462,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in S&P Global in the 4th quarter valued at approximately $1,652,862,000. Wellington Management Group LLP increased its position in S&P Global by 13.2% in the 3rd quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock valued at $2,769,787,000 after acquiring an additional 881,215 shares during the period. Capital International Investors increased its position in S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after acquiring an additional 616,732 shares during the period. Morgan Stanley increased its position in shares of S&P Global by 8.2% during 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 purchasing an additional 428,737 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of S&P Global by 35.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,179,024 shares of the business services provider’s stock valued at $430,827,000 after purchasing an additional 308,683 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPGI shares. Oppenheimer lifted their target price on S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a report on Monday. Barclays raised their target price on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. BMO Capital Markets raised their target price on S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of S&P Global in a research report on Friday, June 21st. Finally, Stifel Nicolaus raised their target price on S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $468.33.

S&P Global Stock Performance

SPGI traded up $4.13 on Tuesday, hitting $450.45. 731,250 shares of the stock traded hands, compared to its average volume of 1,288,673. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $461.16. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $140.95 billion, a PE ratio of 50.50, a P/E/G ratio of 2.48 and a beta of 1.16. The business has a fifty day moving average price of $432.04 and a two-hundred day moving average price of $431.78.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. On average, research analysts predict that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

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.