Price T Rowe Associates Inc. MD Has $1.11 Billion Stock Position in S&P Global Inc. (NYSE:SPGI)

Price T Rowe Associates Inc. MD lowered its holdings in S&P Global Inc. (NYSE:SPGI) by 2.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,613,852 shares of the business services provider’s stock after selling 69,660 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in S&P Global were worth $1,112,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mutual Advisors LLC grew its holdings in shares of S&P Global by 4.5% during the 4th quarter. Mutual Advisors LLC now owns 1,396 shares of the business services provider’s stock worth $615,000 after purchasing an additional 60 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of S&P Global by 3.7% during the 4th quarter. Pacer Advisors Inc. now owns 21,379 shares of the business services provider’s stock worth $9,418,000 after purchasing an additional 760 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of S&P Global during the 4th quarter worth approximately $397,000. Procyon Advisors LLC grew its holdings in shares of S&P Global by 13.4% during the 4th quarter. Procyon Advisors LLC now owns 1,145 shares of the business services provider’s stock worth $505,000 after purchasing an additional 135 shares in the last quarter. Finally, Trueblood Wealth Management LLC acquired a new stake in shares of S&P Global during the 4th quarter worth approximately $566,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPGI. Barclays lifted their price objective on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. BMO Capital Markets boosted their price target on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Oppenheimer boosted their price target on S&P Global from $482.00 to $486.00 and gave the company an “outperform” rating in a research note on Monday, July 1st. Finally, UBS Group boosted their price target on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $490.55.

S&P Global Price Performance

SPGI traded up $6.49 during trading on Friday, hitting $489.82. The company’s stock had a trading volume of 823,325 shares, compared to its average volume of 1,090,975. The firm’s 50 day moving average price is $450.71 and its two-hundred day moving average price is $436.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $498.15. The stock has a market capitalization of $153.26 billion, a price-to-earnings ratio of 54.91, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.33. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. Sell-side analysts forecast that S&P Global Inc. will post 14.3 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s payout ratio is currently 40.81%.

S&P Global Company Profile

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.