Cypress Capital Group Boosts Stake in S&P Global Inc. $SPGI

Cypress Capital Group boosted its holdings in S&P Global Inc. (NYSE:SPGI) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,827 shares of the business services provider’s stock after acquiring an additional 31 shares during the quarter. Cypress Capital Group’s holdings in S&P Global were worth $2,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of S&P Global by 4.7% in the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider’s stock worth $1,582,000 after purchasing an additional 143 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of S&P Global by 20.2% in the 1st quarter. GAMMA Investing LLC now owns 4,210 shares of the business services provider’s stock worth $2,139,000 after buying an additional 708 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of S&P Global by 10.1% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,196 shares of the business services provider’s stock valued at $1,116,000 after buying an additional 201 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of S&P Global by 8.0% during the 1st quarter. CVA Family Office LLC now owns 806 shares of the business services provider’s stock worth $410,000 after acquiring an additional 60 shares during the last quarter. Finally, Goldstone Financial Group LLC grew its position in S&P Global by 38.1% in the first quarter. Goldstone Financial Group LLC now owns 775 shares of the business services provider’s stock worth $394,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPGI shares. BMO Capital Markets raised their price target on S&P Global from $604.00 to $621.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Barclays raised their price objective on S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Seaport Res Ptn raised S&P Global to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, UBS Group lifted their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $614.85.

S&P Global Price Performance

SPGI opened at $486.39 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $529.93 and its 200 day simple moving average is $514.33. The firm has a market cap of $148.49 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.58 and a beta of 1.19. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $579.05.

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

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders 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 annualized dividend and a yield of 0.8%. S&P Global’s dividend payout ratio is presently 29.54%.

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.