CI Investments Inc. Cuts Holdings in S&P Global Inc. (NYSE:SPGI)

CI Investments Inc. lowered its stake in shares of S&P Global Inc. (NYSE:SPGIGet Rating) by 34.7% in the second quarter, Holdings Channel reports. The institutional investor owned 711,125 shares of the business services provider’s stock after selling 377,681 shares during the period. S&P Global accounts for 1.1% of CI Investments Inc.’s holdings, making the stock its 18th biggest position. CI Investments Inc.’s holdings in S&P Global were worth $239,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hendershot Investments Inc. boosted its position in S&P Global by 6.2% during the first quarter. Hendershot Investments Inc. now owns 499 shares of the business services provider’s stock valued at $205,000 after purchasing an additional 29 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of S&P Global by 1.8% in the 2nd quarter. TrinityPoint Wealth LLC now owns 1,641 shares of the business services provider’s stock valued at $553,000 after buying an additional 29 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of S&P Global by 2.5% in the 2nd quarter. Moors & Cabot Inc. now owns 1,251 shares of the business services provider’s stock worth $422,000 after buying an additional 30 shares during the last quarter. Private Capital Group LLC grew its position in shares of S&P Global by 8.2% in the 2nd quarter. Private Capital Group LLC now owns 410 shares of the business services provider’s stock worth $138,000 after buying an additional 31 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its stake in shares of S&P Global by 2.8% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 1,139 shares of the business services provider’s stock worth $383,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 88.15% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of S&P Global from $418.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, October 21st. Atlantic Securities raised S&P Global from a “neutral” rating to an “overweight” rating and upped their target price for the company from $356.00 to $386.00 in a research report on Monday, November 7th. Oppenheimer increased their price target on S&P Global to $390.00 in a research note on Tuesday, November 1st. Raymond James dropped their price target on S&P Global from $402.00 to $398.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $397.00 price objective (down from $430.00) on shares of S&P Global in a research report on Tuesday, October 25th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and a consensus target price of $388.69.

S&P Global Stock Performance

NYSE SPGI traded up $6.02 on Thursday, reaching $358.27. 2,137,454 shares of the company’s stock traded hands, compared to its average volume of 1,705,181. S&P Global Inc. has a fifty-two week low of $279.32 and a fifty-two week high of $484.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $116.72 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 2.64 and a beta of 1.06. The stock has a 50 day moving average price of $320.90 and a 200-day moving average price of $341.31.

S&P Global (NYSE:SPGIGet Rating) last issued its earnings results on Thursday, October 27th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.14. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. S&P Global had a return on equity of 12.47% and a net margin of 33.78%. Equities research analysts predict that S&P Global Inc. will post 11.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, November 25th. S&P Global’s dividend payout ratio (DPR) is 28.43%.

S&P Global Company Profile

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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 in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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