QRG Capital Management Inc. lifted its stake in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 6.4% during the fourth quarter, Holdings Channel reports. The firm owned 23,562 shares of the business services provider’s stock after purchasing an additional 1,419 shares during the quarter. QRG Capital Management Inc.’s holdings in S&P Global were worth $11,735,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SPGI. Swedbank AB grew its position in S&P Global by 11.8% during the 3rd quarter. Swedbank AB now owns 871,588 shares of the business services provider’s stock worth $450,280,000 after purchasing an additional 92,115 shares in the last quarter. Howard Capital Management Group LLC boosted its position in shares of S&P Global by 3.2% in the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock worth $471,000 after buying an additional 28 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in shares of S&P Global in the third quarter worth $334,000. Integrated Advisors Network LLC grew its stake in S&P Global by 3.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,013 shares of the business services provider’s stock valued at $523,000 after acquiring an additional 31 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of S&P Global by 7.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,517 shares of the business services provider’s stock valued at $1,300,000 after purchasing an additional 184 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on the stock. UBS Group boosted their price objective on shares of S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Citigroup began coverage on shares of S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 price target on the stock. Wells Fargo & Company upped their price target on shares of S&P Global from $617.00 to $633.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer reduced their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, BMO Capital Markets upped their target price on S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $590.23.
S&P Global Stock Down 0.7 %
Shares of SPGI stock opened at $525.77 on Friday. The stock’s 50 day simple moving average is $512.90 and its 200 day simple moving average is $510.33. S&P Global Inc. has a twelve month low of $407.69 and a twelve month high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $161.83 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 2.41 and a beta of 1.20.
S&P Global (NYSE:SPGI – Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same period last year, the business earned $3.13 EPS. As a group, research analysts predict that S&P Global Inc. will post 17.11 EPS for the current year.
S&P Global Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.96 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.73%. S&P Global’s payout ratio is currently 31.09%.
S&P Global Company Profile
S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.
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