Spouting Rock Asset Management LLC Makes New $249,000 Investment in S&P Global Inc. (NYSE:SPGI)

Spouting Rock Asset Management LLC purchased a new position in S&P Global Inc. (NYSE:SPGIFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 565 shares of the business services provider’s stock, valued at approximately $249,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of S&P Global in the 4th quarter worth about $1,652,862,000. Wellington Management Group LLP raised its holdings in shares of S&P Global by 13.2% in the 3rd quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after purchasing an additional 881,215 shares during the period. Capital International Investors raised its holdings in shares of S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock worth $2,423,762,000 after purchasing an additional 616,732 shares during the period. Morgan Stanley raised its holdings in shares of S&P Global by 8.2% in the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock worth $2,067,807,000 after purchasing an additional 428,737 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of S&P Global by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,033,443 shares of the business services provider’s stock worth $377,630,000 after purchasing an additional 309,123 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPGI. Oppenheimer raised their price objective on S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. BMO Capital Markets raised their price objective on S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 target price on shares of S&P Global in a report on Friday, May 24th. Finally, Stifel Nicolaus raised their target price on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $467.89.

Get Our Latest Stock Report on S&P Global

S&P Global Stock Performance

SPGI stock traded down $2.79 during trading on Friday, reaching $434.40. 788,430 shares of the company’s stock were exchanged, compared to its average volume of 1,293,194. 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 1-year low of $340.49 and a 1-year high of $461.16. The company’s fifty day moving average price is $426.80 and its 200-day moving average price is $429.95. The firm has a market cap of $135.92 billion, a PE ratio of 48.76, a P/E/G ratio of 2.45 and a beta of 1.15.

S&P Global (NYSE:SPGIGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. On average, research analysts expect that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, May 29th. S&P Global’s dividend payout ratio is 40.81%.

S&P Global Company Profile

(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.

See Also

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGIFree Report).

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

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