S&P Global Inc. (NYSE:SPGI) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its position in shares of S&P Global Inc. (NYSE:SPGI) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 450,783 shares of the business services provider’s stock after selling 13,674 shares during the quarter. S&P Global makes up 1.1% of Fred Alger Management LLC’s investment portfolio, making the stock its 16th largest position. Fred Alger Management LLC owned about 0.15% of S&P Global worth $232,884,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPGI. HWG Holdings LP purchased a new stake in S&P Global in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new stake in S&P Global in the third quarter valued at approximately $27,000. Sachetta LLC increased its position in S&P Global by 103.4% during the second 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 last quarter. First Personal Financial Services purchased a new position in S&P Global during the third quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of S&P Global in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SPGI. Oppenheimer upped their price objective on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. 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 report on Friday, October 25th. Morgan Stanley raised their price target on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Stock Performance

Shares of SPGI stock opened at $522.86 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day moving average price is $509.24 and its two-hundred day moving average price is $484.31. The firm has a market capitalization of $162.24 billion, a P/E ratio of 46.15, a P/E/G ratio of 2.67 and a beta of 1.18. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping 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 business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is currently 32.13%.

S&P Global 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.