Red Door Wealth Management LLC Purchases 120 Shares of S&P Global Inc. (NYSE:SPGI)

Red Door Wealth Management LLC boosted its position in S&P Global Inc. (NYSE:SPGI) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 605 shares of the business services provider’s stock after acquiring an additional 120 shares during the quarter. Red Door Wealth Management LLC’s holdings in S&P Global were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in S&P Global during the 4th quarter worth approximately $1,652,862,000. Wellington Management Group LLP increased its holdings in shares of S&P Global by 13.2% during the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after buying an additional 881,215 shares in the last quarter. Capital International Investors lifted its stake in shares of S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after acquiring an additional 616,732 shares during the last quarter. Morgan Stanley lifted its stake in shares of S&P Global by 8.2% in the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after acquiring an additional 428,737 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of S&P Global by 35.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,179,024 shares of the business services provider’s stock valued at $430,827,000 after acquiring an additional 308,683 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPGI. Barclays increased their target price on S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Oppenheimer boosted their target price on shares of S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Stifel Nicolaus upped their price target on shares of S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of S&P Global in a report on Friday, June 21st. Finally, BMO Capital Markets increased their price objective on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and an average target price of $467.89.

S&P Global Trading Down 0.6 %

NYSE SPGI opened at $446.00 on Monday. The stock has a market capitalization of $139.55 billion, a P/E ratio of 50.00, a P/E/G ratio of 2.48 and a beta of 1.16. The business has a 50 day simple moving average of $431.45 and a 200 day simple moving average of $431.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. S&P Global Inc. has a one year low of $340.49 and a one year high of $461.16.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping the consensus estimate of $3.68 by $0.33. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. Research analysts expect that S&P Global Inc. will post 14.1 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

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.