Asahi Life Asset Management CO. LTD. raised its stake in shares of S&P Global Inc. (NYSE:SPGI – Get Rating) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,640 shares of the business services provider’s stock after acquiring an additional 60 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in S&P Global were worth $501,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dark Forest Capital Management LP acquired a new stake in shares of S&P Global in the second quarter valued at $29,000. EdgeRock Capital LLC acquired a new stake in shares of S&P Global in the third quarter valued at $29,000. Rain Capital Management LLC increased its stake in shares of S&P Global by 38.2% in the second quarter. Rain Capital Management LLC now owns 94 shares of the business services provider’s stock valued at $32,000 after buying an additional 26 shares in the last quarter. New Millennium Group LLC acquired a new stake in shares of S&P Global in the second quarter valued at $32,000. Finally, MV Capital Management Inc. increased its stake in shares of S&P Global by 40.6% in the third quarter. MV Capital Management Inc. now owns 135 shares of the business services provider’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. 87.27% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on S&P Global from $410.00 to $390.00 in a research report on Thursday, October 13th. StockNews.com assumed coverage on S&P Global in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Jefferies Financial Group reiterated 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. Morgan Stanley lowered their price objective on S&P Global from $390.00 to $388.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. Finally, Argus lowered their price objective on S&P Global from $420.00 to $365.00 and set a “buy” rating for the company in a research report on Tuesday, November 1st. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $395.06.
S&P Global Stock Down 1.2 %
S&P Global (NYSE:SPGI – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.14. S&P Global had a return on equity of 12.47% and a net margin of 33.78%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.91 billion. As a group, research analysts forecast that S&P Global Inc. will post 11.1 EPS for the current fiscal year.
S&P Global Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 24th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.99%. This is a boost from S&P Global’s previous quarterly dividend of $0.85. S&P Global’s payout ratio is 28.43%.
In other S&P Global news, SVP Christopher Craig sold 1,055 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $350.02, for a total value of $369,271.10. Following the sale, the senior vice president now owns 6,288 shares in the company, valued at approximately $2,200,925.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.
About S&P Global
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.
- Get a free copy of the StockNews.com research report on S&P Global (SPGI)
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