Price T Rowe Associates Inc. MD Decreases Stock Position in S&P Global Inc. (NYSE:SPGI)

Price T Rowe Associates Inc. MD decreased its position in S&P Global Inc. (NYSE:SPGI) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,613,852 shares of the business services provider’s stock after selling 69,660 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.84% of S&P Global worth $1,112,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SPGI. Capital International Investors increased its stake in shares of S&P Global by 5.3% during the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after acquiring an additional 291,712 shares during the last quarter. Norges Bank purchased a new position in S&P Global in the 4th quarter worth approximately $1,652,862,000. Capital World Investors boosted its holdings in S&P Global by 0.5% in the 4th quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock worth $1,241,706,000 after acquiring an additional 12,644 shares during the period. Wells Fargo & Company MN boosted its holdings in S&P Global by 11.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock worth $1,156,060,000 after acquiring an additional 279,633 shares during the period. Finally, Parnassus Investments LLC boosted its holdings in S&P Global by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock worth $1,086,952,000 after acquiring an additional 7,887 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of SPGI stock traded up $6.49 on Friday, hitting $489.82. 823,325 shares of the stock traded hands, compared to its average volume of 1,090,975. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $153.26 billion, a PE ratio of 54.91, a PEG ratio of 2.78 and a beta of 1.16. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $498.15. The company’s fifty day moving average is $450.71 and its 200 day moving average is $436.98.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.33. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. On average, equities research analysts predict that S&P Global Inc. will post 14.3 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s dividend payout ratio is currently 40.81%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Erste Group Bank restated a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Bank of America upped their price target on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price target on S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a report on Monday, July 1st. Finally, BMO Capital Markets increased their target price on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $490.55.

S&P Global Company Profile

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.