Oppenheimer & Co. Inc. reduced its holdings in S&P Global Inc. (NYSE:SPGI – Free Report) by 27.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,885 shares of the business services provider’s stock after selling 1,506 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in S&P Global were worth $1,582,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SPGI. Vanguard Group Inc. grew its stake in shares of S&P Global by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 30,374,366 shares of the business services provider’s stock worth $15,873,340,000 after purchasing an additional 117,728 shares in the last quarter. State Street Corp increased its holdings in shares of S&P Global by 1.1% during the fourth quarter. State Street Corp now owns 14,259,690 shares of the business services provider’s stock valued at $7,451,971,000 after purchasing an additional 157,301 shares during the period. TCI Fund Management Ltd. increased its holdings in shares of S&P Global by 5.4% during the fourth quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock valued at $6,161,498,000 after purchasing an additional 600,440 shares during the period. Morgan Stanley raised its stake in shares of S&P Global by 3.3% during the fourth quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider’s stock valued at $4,354,796,000 after purchasing an additional 263,051 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of S&P Global during the fourth quarter valued at about $2,398,991,000. Institutional investors own 87.17% of the company’s stock.
S&P Global Trading Down 1.1%
Shares of S&P Global stock opened at $418.15 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $123.27 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. The business has a fifty day simple moving average of $422.53 and a 200-day simple moving average of $429.14. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $565.28.
S&P Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. S&P Global’s dividend payout ratio (DPR) is 23.69%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on SPGI shares. Bank of America decreased their target price on shares of S&P Global from $575.00 to $550.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Stifel Nicolaus boosted their price target on shares of S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group dropped their price target on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Barclays reduced their price target on shares of S&P Global from $555.00 to $553.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of S&P Global to a “hold” rating in a report on Saturday, July 4th. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $523.59.
Read Our Latest Stock Report on SPGI
S&P Global Company Profile
S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.
S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.
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