Resona Asset Management Co. Ltd. Acquires Shares of 99,074 S&P Global Inc. (NYSE:SPGI)

Resona Asset Management Co. Ltd. bought a new position in S&P Global Inc. (NYSE:SPGI) during the 4th quarter, Holdings Channel reports. The fund bought 99,074 shares of the business services provider’s stock, valued at approximately $49,407,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. Howard Capital Management Group LLC grew its holdings in shares of S&P Global by 3.2% in the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 28 shares in the last quarter. Centiva Capital LP bought a new stake in shares of S&P Global in the 3rd quarter worth about $478,000. IHT Wealth Management LLC lifted its holdings in shares of S&P Global by 21.3% in the 3rd quarter. IHT Wealth Management LLC now owns 2,548 shares of the business services provider’s stock valued at $1,310,000 after acquiring an additional 447 shares during the last quarter. Quarry LP purchased a new position in S&P Global in the third quarter worth about $55,000. Finally, Quantinno Capital Management LP raised its position in S&P Global by 55.6% during the third quarter. Quantinno Capital Management LP now owns 19,661 shares of the business services provider’s stock valued at $10,157,000 after purchasing an additional 7,027 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPGI. Morgan Stanley lifted their target price on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Mizuho initiated coverage on shares of S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price on the stock. Oppenheimer dropped their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. BMO Capital Markets increased their price objective on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Evercore ISI boosted their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $590.86.

S&P Global Stock Performance

Shares of S&P Global stock opened at $451.47 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $513.70 and its 200-day moving average price is $509.32. The firm has a market cap of $141.69 billion, a P/E ratio of 36.56, a P/E/G ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter in the prior year, the business posted $3.13 EPS. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio (DPR) is 31.09%.

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.