Corsair Capital Management L.P. Boosts Stake in S&P Global Inc. (NYSE:SPGI)

Corsair Capital Management L.P. increased its position in S&P Global Inc. (NYSE:SPGI) by 4,201.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,183 shares of the business services provider’s stock after purchasing an additional 18,737 shares during the period. S&P Global accounts for about 2.3% of Corsair Capital Management L.P.’s holdings, making the stock its 14th biggest holding. Corsair Capital Management L.P.’s holdings in S&P Global were worth $9,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPGI. HWG Holdings LP acquired a new position in S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in S&P Global during the 3rd quarter worth approximately $27,000. Sachetta LLC increased its position in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares during the period. First Personal Financial Services acquired a new position in S&P Global during the 3rd quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in S&P Global during the 2nd quarter worth approximately $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 0.8 %

NYSE:SPGI opened at $526.05 on Wednesday. The business’s 50-day moving average is $509.20 and its two-hundred day moving average is $483.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The firm has a market capitalization of $163.23 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period last year, the company posted $3.21 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.69%. S&P Global’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SPGI shares. Robert W. Baird boosted their target price on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Oppenheimer upped their price target on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Royal Bank of Canada increased their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.