Oppenheimer & Co. Inc. Increases Holdings in S&P Global Inc. (NYSE:SPGI)

Oppenheimer & Co. Inc. raised its stake in S&P Global Inc. (NYSE:SPGI) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,291 shares of the business services provider’s stock after purchasing an additional 235 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in S&P Global were worth $2,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPGI. Swedbank AB acquired a new position in S&P Global during the 1st quarter worth approximately $351,774,000. International Assets Investment Management LLC raised its stake in shares of S&P Global by 174,815.4% during the third 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 period. Assenagon Asset Management S.A. lifted its position in shares of 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 worth $206,669,000 after purchasing an additional 360,909 shares in the last quarter. Third Point LLC purchased a new position in shares of S&P Global in the first quarter valued at $142,526,000. Finally, Ameriprise Financial Inc. grew 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 valued at $1,115,697,000 after purchasing an additional 298,645 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPGI. BMO Capital Markets decreased their price objective on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley raised their price objective on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Barclays lifted their price target on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Price Performance

SPGI opened at $503.29 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $510.47 and its 200 day moving average price is $478.74. S&P Global Inc. has a fifty-two week low of $401.79 and a fifty-two week high of $533.29. The firm has a market cap of $156.17 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 EPS. As a group, sell-side analysts expect that S&P Global Inc. will post 15.25 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently announced 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 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 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.