Employees Retirement System of Texas Reduces Position in S&P Global Inc. (NYSE:SPGI)

Employees Retirement System of Texas lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 30.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,200 shares of the business services provider’s stock after selling 8,400 shares during the period. Employees Retirement System of Texas’ holdings in S&P Global were worth $7,881,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Platform Technology Partners purchased a new stake in shares of S&P Global in the 2nd quarter valued at $984,000. Certified Advisory Corp purchased a new stake in shares of S&P Global in the 1st quarter valued at $2,860,000. Raymond James Trust N.A. boosted its holdings in shares of S&P Global by 3.8% in the 2nd quarter. Raymond James Trust N.A. now owns 4,433 shares of the business services provider’s stock valued at $1,820,000 after acquiring an additional 161 shares during the last quarter. Boston Family Office LLC boosted its holdings in shares of S&P Global by 26.2% in the 1st quarter. Boston Family Office LLC now owns 34,438 shares of the business services provider’s stock valued at $11,082,000 after acquiring an additional 7,148 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. boosted its holdings in shares of S&P Global by 6.8% in the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 38,420 shares of the business services provider’s stock valued at $13,557,000 after acquiring an additional 2,460 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on SPGI shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of S&P Global from $450.00 to $475.00 and gave the company a “buy” rating in a report on Friday, July 30th. Morgan Stanley boosted their target price on shares of S&P Global from $476.00 to $491.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Raymond James boosted their target price on shares of S&P Global from $443.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Royal Bank of Canada began coverage on shares of S&P Global in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $476.00 target price for the company. Finally, Oppenheimer boosted their target price on shares of S&P Global from $476.00 to $550.00 and gave the company an “outperform” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $463.90.

NYSE:SPGI opened at $454.05 on Friday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.09 and a current ratio of 2.09. The company has a fifty day moving average of $433.91 and a two-hundred day moving average of $396.46. The stock has a market capitalization of $109.43 billion, a PE ratio of 44.60, a P/E/G ratio of 3.43 and a beta of 0.95. S&P Global Inc. has a fifty-two week low of $303.50 and a fifty-two week high of $456.63.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 29th. The business services provider reported $3.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.34. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2 billion. S&P Global had a net margin of 31.42% and a return on equity of 347.40%. Research analysts forecast that S&P Global Inc. will post 13.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 26th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, August 25th. S&P Global’s payout ratio is 26.35%.

S&P Global Company Profile

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: Ratings, Market Intelligence, Platts and Indices. The Ratings segment offers credit ratings, research, and analytics to investors, issuers, and other market participants.

Further Reading: Understanding dividend yield and dividend payout ratio

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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