Allspring Global Investments Holdings LLC Buys 3,848 Shares of S&P Global Inc. $SPGI

Key Points

• Allspring Global Investments Holdings LLC increased its stake in S&P Global Inc. by 1.5% during Q2, owning 260,316 shares valued at approximately $137.79 million.
• Analyst ratings for S&P Global have improved, with BMO Capital Markets and others raising their price targets, resulting in a consensus rating of "Buy" and a target price of $614.85.
• The company declared a quarterly dividend of $0.96 to be paid on December 10, with a current payout ratio of 29.54% and an annualized yield of 0.8%.

Allspring Global Investments Holdings LLC raised its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,316 shares of the business services provider's stock after acquiring an additional 3,848 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of S&P Global worth $137,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Cheviot Value Management LLC purchased a new position in shares of S&P Global during the 1st quarter worth $26,000. Costello Asset Management INC purchased a new position in shares of S&P Global during the 1st quarter worth $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of S&P Global during the 2nd quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of S&P Global during the 1st quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded shares of S&P Global to a "strong-buy" rating in a research note on Wednesday, October 1st. Oppenheimer lifted their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Morgan Stanley lifted their target price on shares of S&P Global from $615.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, S&P Global currently has a consensus rating of "Buy" and a consensus target price of $614.85.

S&P Global Stock Down 0.3%

Shares of SPGI stock opened at $486.39 on Monday. The stock has a market cap of $148.49 billion, a P/E ratio of 37.41, a PEG ratio of 2.58 and a beta of 1.19. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $529.93 and its two-hundred day simple moving average is $514.33.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. The business had revenue of $1.87 billion for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. Analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be paid a $0.96 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 annualized dividend and a yield of 0.8%. S&P Global's payout ratio is presently 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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