State of Alaska Department of Revenue Purchases 2,390 Shares of S&P Global Inc. (NYSE:SPGI)

by · The Markets Daily

State of Alaska Department of Revenue increased its position in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,201 shares of the business services provider’s stock after purchasing an additional 2,390 shares during the period. State of Alaska Department of Revenue’s holdings in S&P Global were worth $19,218,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of S&P Global in the first quarter worth about $351,774,000. International Assets Investment Management LLC boosted its position in S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after buying an additional 466,757 shares during the period. Assenagon Asset Management S.A. grew its stake in S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after acquiring an additional 360,909 shares in the last quarter. Third Point LLC purchased a new position in shares of S&P Global during the first quarter worth approximately $142,526,000. Finally, Ameriprise Financial Inc. raised its stake in shares of S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPGI. Oppenheimer lifted their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price objective on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, BMO Capital Markets reduced their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average target price of $569.77.

View Our Latest Stock Report on S&P Global

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. Insiders own 0.10% of the company’s stock.

S&P Global Price Performance

Shares of SPGI opened at $490.61 on Friday. The company has a 50 day moving average of $513.82 and a two-hundred day moving average of $470.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $533.29. The company has a market cap of $153.56 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.

S&P Global (NYSE:SPGI – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the firm earned $3.21 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that S&P Global Inc. will post 14.79 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced 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. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 34.50%.

About S&P Global

(Free Report)

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.

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