1832 Asset Management L.P. Raises Stock Position in S&P Global Inc. (NYSE:SPGI)

1832 Asset Management L.P. boosted its stake in shares of S&P Global Inc. (NYSE:SPGI) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 81,358 shares of the business services provider’s stock after acquiring an additional 3,400 shares during the period. 1832 Asset Management L.P.’s holdings in S&P Global were worth $34,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPGI. Mayflower Financial Advisors LLC increased its position in shares of S&P Global by 3.3% during the fourth quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock worth $315,000 after purchasing an additional 23 shares in the last quarter. Allworth Financial LP grew its holdings in shares of S&P Global by 1.8% during the fourth quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock worth $598,000 after buying an additional 24 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of S&P Global by 31.2% in the fourth quarter. Oakworth Capital Inc. now owns 101 shares of the business services provider’s stock valued at $44,000 after buying an additional 24 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of S&P Global by 1.7% in the fourth quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock worth $655,000 after buying an additional 25 shares in the last quarter. Finally, Flputnam Investment Management Co. boosted its position in S&P Global by 1.0% during the fourth quarter. Flputnam Investment Management Co. now owns 2,591 shares of the business services provider’s stock worth $1,141,000 after acquiring an additional 25 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 1.3 %

Shares of SPGI stock traded up $6.49 on Friday, hitting $489.82. The stock had a trading volume of 823,325 shares, compared to its average volume of 1,090,975. The company’s 50 day moving average price is $450.71 and its 200-day moving average price is $436.98. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $498.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $153.26 billion, a P/E ratio of 54.91, a P/E/G ratio of 2.74 and a beta of 1.16.

S&P Global (NYSE:SPGI) last released its earnings results 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. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. Analysts anticipate that S&P Global Inc. will post 14.27 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Wall Street Analyst Weigh In

A number of research firms have commented on SPGI. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Oppenheimer increased their price target on S&P Global from $482.00 to $486.00 and gave the company an “outperform” rating in a report on Monday, July 1st. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research note on Friday, June 21st. Morgan Stanley upped their target price on S&P Global from $500.00 to $510.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Finally, Barclays lifted their price target on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $490.55.

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.