Park Place Capital Corp Raises Stake in S&P Global Inc. (NYSE:SPGI)

Park Place Capital Corp lifted its stake in S&P Global Inc. (NYSE:SPGI) by 54.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,083 shares of the business services provider’s stock after buying an additional 383 shares during the quarter. Park Place Capital Corp’s holdings in S&P Global were worth $461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SPGI. Norges Bank bought a new stake in S&P Global in the fourth quarter worth $1,652,862,000. Wellington Management Group LLP increased its position in S&P Global by 13.2% in 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 purchasing an additional 881,215 shares during the last quarter. Capital International Investors increased its position in S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock worth $2,423,762,000 after purchasing an additional 616,732 shares during the last quarter. Morgan Stanley increased its position in S&P Global by 8.2% in the third quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock worth $2,067,807,000 after purchasing an additional 428,737 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in S&P Global by 35.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,179,024 shares of the business services provider’s stock worth $430,827,000 after purchasing an additional 308,683 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 0.1 %

NYSE:SPGI opened at $446.32 on Tuesday. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $461.16. The company has a 50-day moving average of $431.45 and a 200 day moving average of $431.72. The firm has a market cap of $139.65 billion, a PE ratio of 50.04, a price-to-earnings-growth ratio of 2.48 and a beta of 1.16. 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 (NYSE:SPGI) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, beating the consensus estimate of $3.68 by $0.33. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. As a group, research analysts anticipate that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 annualized dividend and a dividend yield of 0.82%. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPGI. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Stifel Nicolaus boosted their price objective 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. BMO Capital Markets boosted their price objective on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Barclays boosted their price objective on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $468.33.

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.