Deseret Mutual Benefit Administrators Cuts Holdings in S&P Global Inc. (NYSE:SPGI)

by · The Markets Daily

Deseret Mutual Benefit Administrators reduced its position in S&P Global Inc. (NYSE:SPGI – Free Report) by 21.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 418 shares of the business services provider’s stock after selling 111 shares during the period. Deseret Mutual Benefit Administrators’ holdings in S&P Global were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp lifted its holdings in shares of S&P Global by 27.1% in the 1st quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock valued at $12,019,000 after acquiring an additional 6,025 shares during the last quarter. Norden Group LLC bought a new position in S&P Global during the first quarter valued at $377,000. Manchester Capital Management LLC raised its stake in shares of S&P Global by 10.2% in the first quarter. Manchester Capital Management LLC now owns 681 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC lifted its holdings in shares of S&P Global by 3.2% in the 1st quarter. Advisory Services Network LLC now owns 10,223 shares of the business services provider’s stock worth $4,350,000 after acquiring an additional 316 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in shares of S&P Global during the 1st quarter worth about $733,000. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Down 0.0 %

Shares of SPGI stock opened at $489.53 on Thursday. S&P Global Inc. has a fifty-two week low of $382.12 and a fifty-two week high of $533.29. The firm has a market capitalization of $151.90 billion, a PE ratio of 43.21, a P/E/G ratio of 2.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $511.49 and its 200-day simple moving average is $474.78.

S&P Global (NYSE:SPGI – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. S&P Global’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 EPS. Equities analysts expect that S&P Global Inc. will post 15.16 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 32.13%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPGI. Wells Fargo & Company raised their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Oppenheimer upped their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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 investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

Get Our Latest Stock Analysis on SPGI

S&P Global 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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