QRG Capital Management Inc. Has $12.90 Million Position in S&P Global Inc. (NYSE:SPGI)

QRG Capital Management Inc. increased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 25,393 shares of the business services provider’s stock after buying an additional 1,831 shares during the quarter. QRG Capital Management Inc.’s holdings in S&P Global were worth $12,902,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SPGI. Minot DeBlois Advisors LLC acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $25,000. Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $27,000. Human Investing LLC acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $31,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock worth $32,000 after purchasing an additional 38 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Sally Moore sold 500 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the transaction, the executive vice president now owns 5,131 shares of the company’s stock, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America assumed coverage on shares of S&P Global in a research report on Thursday, April 10th. They set a “buy” rating and a $600.00 price objective on the stock. Mizuho assumed coverage on shares of S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective on the stock. Wall Street Zen lowered shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Stifel Nicolaus cut 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 research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $592.71.

S&P Global Trading Up 0.6%

NYSE:SPGI opened at $504.63 on Tuesday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The firm has a market cap of $154.77 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $498.39 and its 200-day moving average is $503.71.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.14. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, May 28th. S&P Global’s dividend payout ratio is 30.16%.

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.