KLP Kapitalforvaltning AS Acquires New Shares in S&P Global Inc. (NYSE:SPGI)

KLP Kapitalforvaltning AS acquired a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 125,438 shares of the business services provider’s stock, valued at approximately $62,472,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPGI. Human Investing LLC bought a new position in S&P Global in the 4th quarter worth about $30,000. Noble Wealth Management PBC bought a new position in S&P Global in the 4th quarter worth about $31,000. Dunhill Financial LLC increased its stake in S&P Global by 94.4% in the 3rd quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock worth $36,000 after acquiring an additional 34 shares during the last quarter. Sound Income Strategies LLC increased its stake in S&P Global by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in S&P Global in the 4th quarter worth about $40,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Trading Up 0.1 %

SPGI opened at $497.62 on Friday. The stock has a market cap of $153.17 billion, a PE ratio of 40.29, a PEG ratio of 2.41 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $513.85 and a 200-day moving average of $510.42. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same period in the previous year, the company earned $3.13 EPS. Equities research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.96 per share. The ex-dividend date was Wednesday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a dividend yield of 0.77%. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

Analysts Set New Price Targets

Several brokerages have recently commented on SPGI. BMO Capital Markets increased their price objective on S&P Global from $576.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Mizuho began coverage on S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective on the stock. Citigroup began coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective on the stock. Morgan Stanley increased their target price on S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Evercore ISI increased their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $590.86.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.