Cornercap Investment Counsel Inc. Reduces Position in S&P Global Inc. (NYSE:SPGI)

Cornercap Investment Counsel Inc. lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,256 shares of the business services provider’s stock after selling 1,416 shares during the period. Cornercap Investment Counsel Inc.’s holdings in S&P Global were worth $1,682,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPGI. Swedbank AB purchased a new stake in S&P Global during the 1st quarter valued at about $351,774,000. International Assets Investment Management LLC boosted its holdings 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 valued at $241,274,000 after purchasing an additional 466,757 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares during the last quarter. Third Point LLC acquired a new position in S&P Global in the 1st quarter valued at about $142,526,000. Finally, Ameriprise Financial Inc. boosted its holdings in S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after purchasing an additional 298,645 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SPGI shares. Wells Fargo & Company boosted their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Oppenheimer boosted their target price on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Barclays lifted their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Stifel Nicolaus upped their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Price Performance

SPGI stock opened at $510.64 on Friday. The business has a 50 day moving average price of $510.74 and a 200 day moving average price of $477.90. The stock has a market cap of $158.45 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 2.61 and a beta of 1.18. S&P Global Inc. has a fifty-two week low of $401.58 and a fifty-two week high of $533.29. 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 posted its 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 return on equity of 13.72% and a net margin of 25.80%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 32.13%.

S&P Global 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.