Cedrus LLC Makes New Investment in S&P Global Inc. (NYSE:SPGI)

Cedrus LLC bought a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 422 shares of the business services provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB purchased a new position in S&P Global during the 1st quarter valued at $351,774,000. Assenagon Asset Management S.A. boosted its stake in shares of S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares in the last quarter. Third Point LLC purchased a new position in shares of S&P Global during the first quarter valued at about $142,526,000. Ameriprise Financial Inc. increased its position in shares of 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 valued at $1,115,697,000 after buying an additional 298,645 shares during the period. Finally, Capital International Investors raised its stake in S&P Global by 5.3% in the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after buying an additional 291,712 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several research reports. Barclays lifted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Wells Fargo & Company lifted their price objective on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price target on S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. UBS Group upped their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Stifel Nicolaus raised their price objective on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $565.17.

S&P Global Stock Up 1.1 %

SPGI opened at $524.80 on Monday. The stock has a market capitalization of $164.21 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18. The firm has a 50 day moving average price of $512.21 and a 200-day moving average price of $468.48. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $533.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33.

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 for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the firm earned $3.12 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts forecast that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.69%. S&P Global’s dividend payout ratio is currently 40.81%.

Insider Buying and Selling at S&P Global

In other news, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s 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 transaction, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 in the last three months. 0.10% of the stock is currently owned by company insiders.

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.