Cigna Investments Inc. New Acquires 5,442 Shares of S&P Global Inc (NYSE:SPGI)

Cigna Investments Inc. New increased its holdings in shares of S&P Global Inc (NYSE:SPGI) by 83.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,960 shares of the business services provider’s stock after buying an additional 5,442 shares during the quarter. Cigna Investments Inc. New’s holdings in S&P Global were worth $2,930,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SPGI. Oppenheimer & Co. Inc. increased its holdings in S&P Global by 0.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,828 shares of the business services provider’s stock worth $1,183,000 after purchasing an additional 34 shares in the last quarter. Waldron Private Wealth LLC increased its position in S&P Global by 3.6% in the first quarter. Waldron Private Wealth LLC now owns 1,006 shares of the business services provider’s stock worth $246,000 after buying an additional 35 shares during the last quarter. Marks Group Wealth Management Inc increased its position in S&P Global by 0.3% in the first quarter. Marks Group Wealth Management Inc now owns 10,742 shares of the business services provider’s stock worth $2,610,000 after buying an additional 37 shares during the last quarter. Country Club Trust Company n.a. increased its position in S&P Global by 3.2% in the fourth quarter. Country Club Trust Company n.a. now owns 1,238 shares of the business services provider’s stock worth $337,000 after buying an additional 38 shares during the last quarter. Finally, Highland Private Wealth Management grew its position in shares of S&P Global by 5.0% in the first quarter. Highland Private Wealth Management now owns 835 shares of the business services provider’s stock valued at $205,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

SPGI stock traded up $1.10 during mid-day trading on Friday, hitting $311.86. 621,180 shares of the stock were exchanged, compared to its average volume of 1,322,260. S&P Global Inc has a 12 month low of $186.05 and a 12 month high of $317.29. The company has a debt-to-equity ratio of 8.52, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $282.87 and a 200 day moving average price of $274.67. The stock has a market capitalization of $74.87 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.09 and a beta of 1.04.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, April 28th. The business services provider reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.37. S&P Global had a return on equity of 758.90% and a net margin of 34.02%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $2.11 EPS. S&P Global’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities analysts forecast that S&P Global Inc will post 10.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 27th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, May 26th. S&P Global’s dividend payout ratio (DPR) is presently 28.12%.

Several brokerages have recently weighed in on SPGI. Oppenheimer began coverage on S&P Global in a research report on Monday, May 18th. They issued an “outperform” rating and a $340.00 price target for the company. UBS Group lifted their price target on S&P Global from $275.00 to $332.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Co lifted their price target on S&P Global from $250.00 to $260.00 in a research report on Thursday, April 30th. BMO Capital Markets lifted their price target on S&P Global from $278.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley lifted their price objective on S&P Global from $290.00 to $316.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. S&P Global has an average rating of “Buy” and a consensus target price of $293.62.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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