Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,480 shares of the business services provider’s stock after selling 845 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in S&P Global were worth $4,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC grew its stake in shares of S&P Global by 1.4% during the 3rd quarter. KCM Investment Advisors LLC now owns 13,091 shares of the business services provider’s stock valued at $6,763,000 after purchasing an additional 184 shares during the period. Archer Investment Corp lifted its position in shares of S&P Global by 21.0% in the third quarter. Archer Investment Corp now owns 127 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 22 shares in the last quarter. Empowered Funds LLC lifted its holdings in S&P Global by 6.7% in the 3rd quarter. Empowered Funds LLC now owns 6,027 shares of the business services provider’s stock worth $3,114,000 after purchasing an additional 377 shares in the last quarter. Empirical Finance LLC boosted its position in shares of S&P Global by 2.6% during the third quarter. Empirical Finance LLC now owns 10,417 shares of the business services provider’s stock worth $5,382,000 after acquiring an additional 263 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in S&P Global by 1.0% during the third quarter. CIBC Asset Management Inc now owns 56,626 shares of the business services provider’s stock valued at $29,254,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Evercore ISI began coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, S&P Global has an average rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Trading Down 1.4 %

Shares of SPGI opened at $503.29 on Friday. The company’s fifty day simple moving average is $510.47 and its 200-day simple moving average is $478.74. The company has a market cap of $156.17 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.61 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a twelve month low of $401.79 and a twelve month high of $533.29.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the company posted $3.21 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that S&P Global Inc. will post 15.25 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is currently 32.13%.

S&P Global 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.