Empowered Funds LLC purchased a new stake in shares of S&P Global Inc. (NYSE:SPGI – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 34,198 shares of the business services provider’s stock, valued at approximately $13,927,000.
A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in 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 in the last quarter. TCI Fund Management Ltd. boosted its stake in shares of S&P Global by 5.4% during the 4th 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 buying an additional 600,440 shares during the period. Morgan Stanley grew its holdings in shares of S&P Global by 3.3% during the 4th quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider’s stock valued at $4,354,796,000 after acquiring an additional 263,051 shares in the last quarter. Norges Bank acquired a new position in shares of S&P Global in the fourth quarter worth $2,398,991,000. Finally, Capital International Investors increased its stake in shares of S&P Global by 43.6% in the fourth quarter. Capital International Investors now owns 3,037,912 shares of the business services provider’s stock worth $1,587,910,000 after acquiring an additional 922,433 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.
S&P Global Stock Up 1.7%
NYSE SPGI opened at $442.62 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50-day simple moving average of $424.57 and a 200 day simple moving average of $424.29. S&P Global Inc. has a twelve month low of $381.61 and a twelve month high of $552.25. The stock has a market cap of $130.48 billion, a PE ratio of 27.02, a PEG ratio of 1.96 and a beta of 1.07.
S&P Global Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend 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 presently 23.69%.
Analysts Set New Price Targets
A number of brokerages have commented on SPGI. Zacks Research downgraded S&P Global from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Mizuho raised their price target on S&P Global from $551.00 to $554.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price target on S&P Global from $555.00 to $530.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Barclays lowered their price target on 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, UBS Group dropped their price objective on S&P Global from $550.00 to $525.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $523.59.
View Our Latest Stock Analysis on SPGI
S&P Global 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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