Alaethes Wealth LLC Makes New Investment in S&P Global Inc. (NYSE:SPGI)

Alaethes Wealth LLC acquired a new position in shares of S&P Global Inc. (NYSE:SPGI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,074 shares of the business services provider’s stock, valued at approximately $2,029,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SPGI. Nordea Investment Management AB grew its position in shares of S&P Global by 52.0% in the 4th quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock valued at $328,632,000 after acquiring an additional 225,370 shares during the period. Eastern Bank grew its holdings in S&P Global by 3.1% during the fourth quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock worth $24,980,000 after purchasing an additional 1,530 shares during the period. Wealthfront Advisers LLC grew its holdings in S&P Global by 19.1% during the fourth quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider’s stock worth $18,799,000 after purchasing an additional 6,051 shares during the period. Synergy Asset Management LLC increased its position in S&P Global by 110.8% during the fourth quarter. Synergy Asset Management LLC now owns 23,868 shares of the business services provider’s stock worth $12,066,000 after buying an additional 12,547 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in S&P Global by 50.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 21,496 shares of the business services provider’s stock valued at $10,705,000 after buying an additional 7,170 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SPGI. Morgan Stanley boosted their target price on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus decreased their price objective on shares of S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a report on Wednesday. BMO Capital Markets raised their target price on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Mizuho began coverage on shares of S&P Global in a report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 target price for the company. Finally, Bank of America started coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a “buy” rating and a $600.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $592.71.

S&P Global Stock Up 1.5 %

Shares of NYSE SPGI opened at $506.52 on Friday. The stock has a market capitalization of $155.35 billion, a P/E ratio of 41.01, a PEG ratio of 2.41 and a beta of 1.23. The stock’s fifty day moving average is $488.33 and its 200 day moving average is $502.15. S&P Global Inc. has a 52 week low of $419.49 and a 52 week high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.72 billion. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.01 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.