S&P Global Inc. (NYSE:SPGI) Shares Sold by Fred Alger Management LLC

by · The Cerbat Gem

Fred Alger Management LLC reduced its position in S&P Global Inc. (NYSE:SPGI – Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,783 shares of the business services provider’s stock after selling 13,674 shares during the quarter. S&P Global makes up about 1.1% of Fred Alger Management LLC’s investment portfolio, making the stock its 16th biggest holding. Fred Alger Management LLC’s holdings in S&P Global were worth $232,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPGI. Eventide Asset Management LLC raised its holdings in shares of S&P Global by 52.8% during the third quarter. Eventide Asset Management LLC now owns 17,059 shares of the business services provider’s stock worth $8,813,000 after purchasing an additional 5,897 shares during the period. Auxier Asset Management bought a new stake in shares of S&P Global during the 3rd quarter valued at about $206,000. Northwest & Ethical Investments L.P. raised its stake in S&P Global by 12.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 16,784 shares of the business services provider’s stock worth $8,671,000 after acquiring an additional 1,894 shares during the period. Vinva Investment Management Ltd lifted its holdings in S&P Global by 11.7% in the third quarter. Vinva Investment Management Ltd now owns 14,702 shares of the business services provider’s stock worth $7,538,000 after acquiring an additional 1,542 shares during the last quarter. Finally, Financial Counselors Inc. boosted its stake in S&P Global by 14.5% in the third quarter. Financial Counselors Inc. now owns 12,602 shares of the business services provider’s stock valued at $6,510,000 after acquiring an additional 1,599 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SPGI shares. Evercore ISI assumed coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target on the stock. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Wells Fargo & Company boosted their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, UBS Group boosted their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, S&P Global presently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

View Our Latest Stock Report on S&P Global

S&P Global Stock Performance

SPGI opened at $522.86 on Friday. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. The company has a market capitalization of $162.24 billion, a price-to-earnings ratio of 46.15, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The business has a 50 day moving average price of $509.24 and a two-hundred day moving average price of $484.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94.

S&P Global (NYSE:SPGI – Get Free Report) last announced its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share 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% on a year-over-year basis. During the same quarter last year, the business posted $3.21 earnings per share. Research analysts predict that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. S&P Global’s dividend payout ratio is currently 32.13%.

S&P Global Company Profile

(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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