W.H. Cornerstone Investments Inc. Cuts Stock Position in S&P Global Inc. $SPGI

W.H. Cornerstone Investments Inc. lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 24.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729 shares of the business services provider’s stock after selling 233 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in S&P Global were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in S&P Global by 0.4% during the first quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider’s stock valued at $15,130,711,000 after purchasing an additional 108,729 shares during the period. Geode Capital Management LLC increased its position in shares of S&P Global by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,793,282 shares of the business services provider’s stock valued at $3,565,889,000 after purchasing an additional 42,724 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in S&P Global by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider’s stock valued at $1,618,934,000 after buying an additional 114,843 shares during the period. Valeo Financial Advisors LLC raised its holdings in S&P Global by 70,734.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock valued at $1,670,671,000 after buying an additional 3,163,938 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock worth $1,497,493,000 after buying an additional 614,809 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Up 1.7%

NYSE SPGI traded up $8.29 during midday trading on Thursday, hitting $504.13. 259,630 shares of the company traded hands, compared to its average volume of 1,355,526. The company has a market cap of $152.65 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company’s 50-day simple moving average is $499.22 and its 200-day simple moving average is $516.89.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. As a group, equities research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. S&P Global’s dividend payout ratio is presently 27.93%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPGI shares. Stifel Nicolaus reduced their target price on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Citigroup boosted their target price on S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research report on Monday, September 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $538.00 price target on shares of S&P Global in a report on Friday, October 31st. Seaport Res Ptn upgraded S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Mizuho lifted their target price on S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $612.38.

About S&P Global

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.