6,133 Shares in S&P Global Inc. (NYSE:SPGI) Bought by Magellan Asset Management Ltd

Key Points

• Magellan Asset Management Ltd acquired 6,133 shares of S&P Global, valued at approximately $3.12 million, as part of its new position disclosed in a recent SEC filing.
• S&P Global's stock received positive ratings from numerous analysts, with target prices increasing, including a hike from $604 to $621 by BMO Capital Markets.
• The company announced a quarterly dividend of $0.96 per share, with an annualized dividend yield of 0.7% and a payout ratio of 29.54%.

Magellan Asset Management Ltd bought a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,133 shares of the business services provider's stock, valued at approximately $3,116,000.

Several other institutional investors and hedge funds have also bought and sold shares of SPGI. Covington Investment Advisors Inc. lifted its stake in shares of S&P Global by 1.2% in the first quarter. Covington Investment Advisors Inc. now owns 31,618 shares of the business services provider's stock valued at $16,065,000 after buying an additional 375 shares in the last quarter. Fiduciary Family Office LLC bought a new position in shares of S&P Global in the first quarter valued at $827,000. True North Advisors LLC bought a new position in shares of S&P Global in the first quarter valued at $2,662,000. Benjamin Edwards Inc. lifted its stake in shares of S&P Global by 14.9% in the first quarter. Benjamin Edwards Inc. now owns 95,973 shares of the business services provider's stock valued at $48,765,000 after buying an additional 12,442 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of S&P Global by 4.9% in the first quarter. Covestor Ltd now owns 682 shares of the business services provider's stock valued at $347,000 after buying an additional 32 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Argus upgraded shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Morgan Stanley increased their target price on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Oppenheimer increased their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, UBS Group increased their target price on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $611.69.

S&P Global Stock Performance

Shares of SPGI stock opened at $556.99 on Friday. The firm has a market cap of $170.05 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 2.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.98. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $566.42. The firm's 50-day simple moving average is $525.43 and its two-hundred day simple moving average is $511.06.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, topping the consensus estimate of $4.18 by $0.25. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.04 earnings per share. As a group, equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.7%. S&P Global's payout ratio is currently 29.54%.

About S&P Global

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.

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