Mackenzie Financial Corp Grows Holdings in S&P Global Inc. (NYSE:SPGI)

Mackenzie Financial Corp increased its stake in S&P Global Inc. (NYSE:SPGI) by 4.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,396,304 shares of the business services provider’s stock after acquiring an additional 57,159 shares during the quarter. S&P Global comprises 0.9% of Mackenzie Financial Corp’s holdings, making the stock its 24th largest position. Mackenzie Financial Corp’s holdings in S&P Global were worth $622,752,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital International Investors grew its holdings in shares of S&P Global by 5.3% during the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after buying an additional 291,712 shares during the last quarter. Capital World Investors raised its holdings in S&P Global by 0.5% in the 4th quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock worth $1,241,706,000 after purchasing an additional 12,644 shares during the period. Ameriprise Financial Inc. boosted its position in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of S&P Global by 2.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock valued at $935,885,000 after buying an additional 46,131 shares in the last quarter. Finally, Fayez Sarofim & Co grew its stake in S&P Global by 0.6% in the 1st quarter. Fayez Sarofim & Co now owns 1,458,141 shares of the business services provider’s stock valued at $620,366,000 after acquiring an additional 8,435 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

NYSE SPGI opened at $511.72 on Friday. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $528.02. The company has a market capitalization of $160.12 billion, a P/E ratio of 57.37, a PEG ratio of 2.91 and a beta of 1.17. The business has a 50 day moving average price of $501.55 and a 200 day moving average price of $457.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the company earned $3.12 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Sell-side analysts expect that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The company 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. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 40.81%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SPGI shares. Morgan Stanley raised their price target on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Oppenheimer upped their target price on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their target price on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $548.18.

Insider Activity at S&P Global

In related news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders own 0.10% of the company’s stock.

S&P Global Company 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.