Edgewood Management LLC lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,922,179 shares of the business services provider's stock after selling 62,065 shares during the period. S&P Global accounts for approximately 5.5% of Edgewood Management LLC's holdings, making the stock its 6th largest position. Edgewood Management LLC owned about 1.26% of S&P Global worth $2,026,276,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SPGI. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of S&P Global by 107.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider's stock valued at $2,798,000 after buying an additional 2,962 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of S&P Global in the first quarter worth $2,236,000. GDS Wealth Management raised its stake in S&P Global by 7.0% in the third quarter. GDS Wealth Management now owns 27,358 shares of the business services provider's stock valued at $14,134,000 after purchasing an additional 1,801 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in S&P Global by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 30,014 shares of the business services provider's stock worth $13,386,000 after purchasing an additional 1,405 shares during the period. Finally, BDF Gestion acquired a new stake in S&P Global during the second quarter worth about $4,419,000. Institutional investors and hedge funds own 87.17% of the company's stock.
S&P Global Stock Up 0.6 %
NYSE SPGI traded up $3.05 during mid-day trading on Friday, hitting $514.42. The company's stock had a trading volume of 535,055 shares, compared to its average volume of 1,208,325. The firm has a market capitalization of $159.62 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 2.57 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 $407.69 and a twelve month high of $533.29. The company's 50 day simple moving average is $509.45 and its 200 day simple moving average is $481.15.
S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts' consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. During the same period in the prior year, the firm posted $3.21 EPS. S&P Global's quarterly revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that S&P Global Inc. will post 15.24 earnings per share for the current year.
S&P Global Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global's dividend payout ratio is currently 32.13%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SPGI. Stifel Nicolaus boosted their price target on S&P Global from $540.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Raymond James cut shares of S&P Global from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. BMO Capital Markets decreased their price target on shares of S&P Global from $589.00 to $564.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Barclays increased their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Finally, Evercore ISI initiated coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $599.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $571.31.
Check Out Our Latest Analysis on SPGI
About S&P Global
(
Free Report)
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.
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