Mitsubishi UFJ Asset Management Co. Ltd. Acquires 207,629 Shares of S&P Global Inc. $SPGI

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,834,905 shares of the business services provider’s stock after purchasing an additional 207,629 shares during the period. S&P Global makes up about 0.8% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 20th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in S&P Global were worth $967,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Divergent Planning LLC purchased a new position in S&P Global in the 2nd quarter worth about $303,000. Dynamic Advisor Solutions LLC grew its stake in shares of S&P Global by 6.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 12,456 shares of the business services provider’s stock worth $6,568,000 after acquiring an additional 733 shares during the period. SCS Capital Management LLC purchased a new position in shares of S&P Global during the first quarter valued at approximately $240,000. Foster Victor Wealth Advisors LLC raised its holdings in shares of S&P Global by 4.6% during the second quarter. Foster Victor Wealth Advisors LLC now owns 31,323 shares of the business services provider’s stock valued at $16,562,000 after purchasing an additional 1,383 shares during the last quarter. Finally, Northside Capital Management LLC bought a new position in S&P Global during the second quarter valued at approximately $975,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of SPGI opened at $495.89 on Friday. The business has a 50-day simple moving average of $502.04 and a two-hundred day simple moving average of $516.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The stock has a market cap of $150.15 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.50 and a beta of 1.17.

S&P Global (NYSE:SPGI) last released its earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company had revenue of $1.87 billion during the quarter. On average, analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s dividend payout ratio is 27.93%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup raised their price target on S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $538.00 price objective on shares of S&P Global in a report on Friday, October 31st. Wells Fargo & Company increased their target price on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Mizuho upped their price target on shares of S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $612.38.

About S&P Global

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.