Bridges Investment Management Inc. Grows Stock Position in S&P Global Inc. (NYSE:SPGI)

Bridges Investment Management Inc. lifted its holdings in S&P Global Inc. (NYSE:SPGI) by 157.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,321 shares of the business services provider’s stock after purchasing an additional 126,902 shares during the period. S&P Global comprises about 1.4% of Bridges Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Bridges Investment Management Inc. owned 0.07% of S&P Global worth $92,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital International Investors increased its stake in shares of S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after purchasing an additional 291,712 shares in the last quarter. Capital World Investors increased its stake in shares of 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 valued at $1,241,706,000 after purchasing an additional 12,644 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of S&P Global by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock valued at $1,086,952,000 after purchasing an additional 7,887 shares in the last quarter. Sustainable Growth Advisers LP increased its stake in shares of S&P Global by 2.1% in 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 purchasing an additional 46,131 shares in the last quarter. Finally, Fayez Sarofim & Co increased its stake in S&P Global by 0.6% during the 1st quarter. Fayez Sarofim & Co now owns 1,458,141 shares of the business services provider’s stock worth $620,366,000 after buying an additional 8,435 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

S&P Global Trading Up 0.9 %

SPGI opened at $524.32 on Friday. S&P Global Inc. has a one year low of $340.49 and a one year high of $528.02. The stock has a market capitalization of $164.06 billion, a PE ratio of 58.78, a P/E/G ratio of 2.68 and a beta of 1.17. The business’s 50 day moving average price is $498.25 and its 200 day moving average price is $454.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates 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 posted $3.12 earnings per share. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts expect that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Wall Street Analyst Weigh In

Several research firms have commented on SPGI. Morgan Stanley boosted their price objective on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group boosted their price objective on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Bank of America boosted their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Barclays boosted their price objective on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $548.18.

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.