S&P Global Inc. (NYSE:SPGI) Position Boosted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in S&P Global Inc. (NYSE:SPGI) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 587 shares of the business services provider’s stock after purchasing an additional 55 shares during the period. Wedge Capital Management L L P NC’s holdings in S&P Global were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of S&P Global by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider’s stock worth $3,273,264,000 after acquiring an additional 116,208 shares during the last quarter. Norges Bank acquired a new stake in shares of S&P Global in the fourth quarter valued at approximately $1,725,084,000. Northern Trust Corp raised its holdings in shares of S&P Global by 19.1% during the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock valued at $1,631,568,000 after buying an additional 525,347 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of S&P Global by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider’s stock worth $1,529,653,000 after buying an additional 357,790 shares during the period. Finally, Amundi grew its holdings in S&P Global by 6.6% in the 4th quarter. Amundi now owns 2,345,377 shares of the business services provider’s stock worth $1,162,979,000 after buying an additional 145,434 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPGI shares. Mizuho started coverage on S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price target for the company. UBS Group boosted their price target on shares of S&P Global from $555.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Robert W. Baird decreased their price objective on shares of S&P Global from $616.00 to $589.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $592.71.

Insiders Place Their Bets

In related news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president now owns 5,131 shares of the company’s stock, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

Shares of SPGI opened at $513.89 on Thursday. The company has a 50-day moving average of $494.55 and a two-hundred day moving average of $504.34. The stock has a market cap of $157.61 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. S&P Global Inc. has a one year low of $427.14 and a one year high of $545.39.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $4.01 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th were paid a $0.96 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $3.84 annualized dividend and a yield of 0.75%. S&P Global’s dividend payout ratio is presently 30.16%.

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.