Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in S&P Global Inc. (NYSE:SPGI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 17.9% during the 3rd quarter, Holdings Channel reports. The firm owned 324,318 shares of the business services provider’s stock after buying an additional 49,193 shares during the period. S&P Global makes up about 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 27th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in S&P Global were worth $167,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. Dupont Capital Management Corp grew its stake in S&P Global by 27.1% during the 1st quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock worth $12,019,000 after purchasing an additional 6,025 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of S&P Global by 6.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,623 shares of the business services provider’s stock valued at $1,967,000 after buying an additional 264 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of S&P Global by 17.0% during the first quarter. Citizens Financial Group Inc. RI now owns 3,711 shares of the business services provider’s stock worth $1,579,000 after buying an additional 539 shares in the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of S&P Global by 14.0% during the first quarter. Strategic Wealth Partners Ltd. now owns 2,179 shares of the business services provider’s stock worth $927,000 after buying an additional 268 shares during the period. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in S&P Global by 1.0% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 5,375 shares of the business services provider’s stock valued at $2,287,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.2 %

NYSE SPGI opened at $522.96 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $162.27 billion, a P/E ratio of 46.16, a P/E/G ratio of 2.66 and a beta of 1.18. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $533.29. The firm has a 50-day moving average price of $509.26 and a 200 day moving average price of $484.04.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.21 EPS. Equities research analysts expect that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 32.13%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their target price 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 company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $571.31.

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.