Allstate Corp Acquires New Shares in S&P Global Inc. (NYSE:SPGI)

Allstate Corp acquired a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,483 shares of the business services provider's stock, valued at approximately $4,723,000.

Several other institutional investors have also recently added to or reduced their stakes in SPGI. Howard Capital Management Group LLC grew its holdings in S&P Global by 3.2% in the 3rd quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider's stock worth $471,000 after buying an additional 28 shares in the last quarter. Larson Financial Group LLC lifted its stake in S&P Global by 471.1% during the third quarter. Larson Financial Group LLC now owns 217 shares of the business services provider's stock valued at $112,000 after purchasing an additional 179 shares during the last quarter. Fisher Asset Management LLC grew its position in S&P Global by 8.2% in the third quarter. Fisher Asset Management LLC now owns 6,519 shares of the business services provider's stock worth $3,368,000 after buying an additional 492 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of S&P Global by 53.3% in the third quarter. CreativeOne Wealth LLC now owns 1,410 shares of the business services provider's stock valued at $729,000 after buying an additional 490 shares in the last quarter. Finally, Financial Counselors Inc. raised its holdings in S&P Global by 14.5% during the 3rd quarter. Financial Counselors Inc. now owns 12,602 shares of the business services provider's stock worth $6,510,000 after buying an additional 1,599 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

SPGI has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on S&P Global from $617.00 to $633.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. BMO Capital Markets increased their price target on shares of S&P Global from $576.00 to $590.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Oppenheimer decreased their target price on S&P Global from $590.00 to $580.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. StockNews.com lowered shares of S&P Global from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Mizuho started coverage on S&P Global in a report on Wednesday, March 12th. They issued an "outperform" rating and a $599.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $590.86.

S&P Global Price Performance

SPGI stock traded up $2.56 during trading on Tuesday, hitting $510.66. 970,932 shares of the stock traded hands, compared to its average volume of 1,220,191. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The stock has a market cap of $160.26 billion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a one year low of $407.69 and a one year high of $545.39. The company has a 50 day simple moving average of $515.34 and a 200 day simple moving average of $510.02.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same quarter last year, the firm posted $3.13 EPS. Equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from S&P Global's previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, February 26th. S&P Global's dividend payout ratio is presently 31.09%.

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.