Norges Bank Takes $2.19 Billion Position in S&P Global Inc. $SPGI

Norges Bank purchased a new position in shares of S&P Global Inc. (NYSE:SPGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,151,311 shares of the business services provider’s stock, valued at approximately $2,188,945,000. Norges Bank owned 1.36% of S&P Global at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SPGI. Cheviot Value Management LLC bought a new position in S&P Global during the first quarter valued at about $26,000. Costello Asset Management INC bought a new position in S&P Global during the first quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in S&P Global during the second quarter valued at $26,000. MTM Investment Management LLC purchased a new stake in S&P Global in the second quarter worth $27,000. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.5%

Shares of SPGI stock opened at $496.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market cap of $150.32 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.50 and a beta of 1.17. The business has a 50-day moving average price of $488.85 and a two-hundred day moving average price of $516.22. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05.

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

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s dividend payout ratio is presently 27.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPGI shares. William Blair reissued an “outperform” rating on shares of S&P Global in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their price target on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. BMO Capital Markets set a $546.00 target price on S&P Global in a research report on Friday, November 14th. Mizuho increased their price objective on S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Barclays upped their price target on S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $613.00.

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.