New York State Common Retirement Fund Decreases Stake in S&P Global Inc. (NYSE:SPGI)

New York State Common Retirement Fund decreased its holdings in S&P Global Inc. (NYSE:SPGI) by 11.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 447,317 shares of the business services provider’s stock after selling 56,826 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of S&P Global worth $231,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP acquired a new position in shares of S&P Global during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in S&P Global during the 3rd quarter worth approximately $27,000. Sachetta LLC boosted its holdings in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares during the period. Hobbs Group Advisors LLC acquired a new stake in S&P Global in the second quarter valued at approximately $31,000. Finally, Voisard Asset Management Group Inc. raised its stake in shares of S&P Global by 77.1% during the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 27 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

SPGI traded up $3.56 during trading hours on Friday, hitting $483.92. 62,310 shares of the stock were exchanged, compared to its average volume of 1,195,896. The stock has a market cap of $150.16 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.18. The stock has a 50-day simple moving average of $512.79 and a 200-day simple moving average of $472.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 1.03. S&P Global Inc. has a 12 month low of $365.00 and a 12 month high of $533.29.

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

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s payout ratio is currently 32.13%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America increased their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Robert W. Baird lifted their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus price target of $571.31.

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.