21,464 S&P Global Inc. $SPGI Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its S&P Global stake by 9.8%, selling 21,464 shares in the third quarter; it retained 197,830 shares valued at about $76.8 million.
• Analysts remain broadly positive: 18 rate the stock Buy and two Hold, giving it a consensus “Moderate Buy” rating and a $523.35 average price target.
• S&P Global beat quarterly estimates, reporting EPS of $4.58 versus $4.43 expected and revenue of $3.68 billion, up 6.8% year over year. It declared a $0.97 quarterly dividend.

Allspring Global Investments Holdings LLC lowered its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 9.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 197,830 shares of the business services provider's stock after selling 21,464 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of S&P Global worth $76,790,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPGI. State Street Corp lifted its holdings in shares of S&P Global by 2.2% in the 2nd quarter. State Street Corp now owns 14,482,789 shares of the business services provider's stock worth $5,898,261,000 after purchasing an additional 307,255 shares during the last quarter. Unisphere Establishment grew its position in S&P Global by 6.5% in the 1st quarter. Unisphere Establishment now owns 2,130,050 shares of the business services provider's stock valued at $905,995,000 after buying an additional 130,050 shares in the last quarter. Bank of America Corp DE bought a new position in S&P Global in the 2nd quarter valued at about $865,892,000. Soroban Capital Partners LP increased its stake in S&P Global by 260.3% during the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock valued at $718,247,000 after buying an additional 1,219,990 shares during the period. Finally, EdgePoint Investment Group Inc. acquired a new position in S&P Global during the 1st quarter valued at about $702,911,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SPGI. Zacks Research upgraded shares of S&P Global from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. Stifel Nicolaus upped their price objective on S&P Global from $489.00 to $521.00 and gave the company a "buy" rating in a report on Friday, July 17th. JPMorgan Chase & Co. raised their target price on S&P Global from $520.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. Wells Fargo & Company lifted their target price on S&P Global from $525.00 to $545.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. Finally, Robert W. Baird set a $513.00 target price on shares of S&P Global in a report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $523.35.

S&P Global Trading Up 0.7%

S&P Global stock opened at $471.08 on Tuesday. S&P Global Inc. has a one year low of $381.61 and a one year high of $552.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.74. The company's fifty day moving average price is $426.01 and its two-hundred day moving average price is $429.67. The company has a market capitalization of $136.57 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 2.28 and a beta of 1.03.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.15. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.73 earnings per share. On average, analysts forecast that S&P Global Inc. will post 17.89 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $3.88 annualized dividend and a yield of 0.8%. S&P Global's dividend payout ratio is 23.14%.

About S&P Global

S&P Global Inc provides financial information, credit ratings, benchmarks, analytics and data to businesses, governments and investors around the world. Its services include credit ratings and research through S&P Global Ratings, financial data and analytics through S&P Global Market Intelligence, and information and benchmarks for energy and commodities markets through S&P Global Commodity Insights.

The company also develops market indices through S&P Dow Jones Indices, a joint venture in which S&P Global is the majority owner, and provides data and analytics for the automotive industry through S&P Global Mobility.

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