MAI Capital Management Lowers Stake in S&P Global Inc. (NYSE:SPGI)

MAI Capital Management cut its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 13.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,605 shares of the business services provider's stock after selling 1,829 shares during the quarter. MAI Capital Management's holdings in S&P Global were worth $5,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors grew its holdings in S&P Global by 5.3% during the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider's stock worth $2,464,951,000 after acquiring an additional 291,712 shares during the period. Legal & General Group Plc grew its holdings in S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider's stock valued at $1,260,665,000 after purchasing an additional 29,227 shares during the period. Ameriprise Financial Inc. grew its holdings in S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider's stock valued at $1,115,697,000 after purchasing an additional 298,645 shares during the period. Clearbridge Investments LLC grew its holdings in S&P Global by 1.4% in the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider's stock valued at $651,682,000 after purchasing an additional 20,624 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in S&P Global by 4.3% in the second quarter. Mackenzie Financial Corp now owns 1,396,304 shares of the business services provider's stock valued at $622,752,000 after purchasing an additional 57,159 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPGI shares. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus lifted their price objective on S&P Global from $540.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Robert W. Baird lifted their price objective on S&P Global from $536.00 to $575.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Finally, Oppenheimer lifted their target price on S&P Global from $540.00 to $590.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $571.31.

S&P Global Stock Performance

Shares of NYSE SPGI traded up $0.82 during mid-day trading on Wednesday, hitting $503.13. 1,258,228 shares of the company were exchanged, compared to its average volume of 1,211,534. The firm has a market cap of $156.12 billion, a price-to-earnings ratio of 44.33, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. The stock has a 50 day simple moving average of $509.86 and a 200-day simple moving average of $480.77.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analysts' expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $3.21 EPS. On average, sell-side analysts forecast that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared 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. This represents a $3.64 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global's payout ratio is 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.