Convergence Investment Partners LLC Lowers Holdings in S&P Global Inc. $SPGI

Convergence Investment Partners LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 76.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 389 shares of the business services provider’s stock after selling 1,278 shares during the quarter. Convergence Investment Partners LLC’s holdings in S&P Global were worth $205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Divergent Planning LLC bought a new position in shares of S&P Global during the 2nd quarter valued at approximately $303,000. Dynamic Advisor Solutions LLC raised its position in shares of S&P Global by 6.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 12,456 shares of the business services provider’s stock valued at $6,568,000 after buying an additional 733 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of S&P Global in the 1st quarter valued at about $240,000. Foster Victor Wealth Advisors LLC lifted its holdings in shares of S&P Global by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,323 shares of the business services provider’s stock valued at $16,562,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Northside Capital Management LLC purchased a new position in S&P Global in the second quarter worth about $975,000. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SPGI. Wells Fargo & Company increased their price target on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, September 19th. JPMorgan Chase & Co. upped their price target on shares of S&P Global from $575.00 to $625.00 and gave the company an “overweight” rating in a report on Monday, July 21st. BMO Capital Markets reduced their price objective on shares of S&P Global from $621.00 to $558.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Seaport Res Ptn raised S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI boosted their target price on shares of S&P Global from $613.00 to $619.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, S&P Global has an average rating of “Buy” and an average target price of $614.23.

S&P Global Price Performance

Shares of SPGI stock opened at $496.57 on Tuesday. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $512.94 and a two-hundred day simple moving average of $514.74. The stock has a market capitalization of $151.60 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 2.59 and a beta of 1.19.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. The business had revenue of $1.87 billion during the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. On average, analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global’s dividend payout ratio is currently 29.54%.

S&P Global 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.