Apollon Wealth Management LLC Boosts Stake in S&P Global Inc. $SPGI

Key Points

• Apollon Wealth Management LLC increased its stake in S&P Global Inc. by 10.2%, now holding 30,220 shares valued at approximately $15.9 million.
• Recent upgrades from several analysts have set a consensus target price for S&P Global's stock at $614.85, with a majority rating it as a "Buy".
• S&P Global declared a quarterly dividend of $0.96 to be paid on December 10th, reflecting a dividend yield of 0.8%.

Apollon Wealth Management LLC raised its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,220 shares of the business services provider's stock after buying an additional 2,787 shares during the period. Apollon Wealth Management LLC's holdings in S&P Global were worth $15,935,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of S&P Global by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock valued at $15,130,711,000 after purchasing an additional 108,729 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of S&P Global by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider's stock valued at $1,618,934,000 after purchasing an additional 114,843 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of S&P Global by 70,734.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider's stock valued at $1,670,671,000 after purchasing an additional 3,163,938 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of S&P Global by 26.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock valued at $1,497,493,000 after purchasing an additional 614,809 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of S&P Global by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock valued at $1,403,468,000 after purchasing an additional 97,324 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPGI shares. Seaport Res Ptn upgraded shares of S&P Global to a "strong-buy" rating in a research note on Wednesday, October 1st. Oppenheimer increased their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Barclays increased their price objective on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, UBS Group increased their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $614.85.

S&P Global Trading Down 0.3%

S&P Global stock opened at $486.39 on Friday. The firm has a 50 day simple moving average of $529.93 and a 200-day simple moving average of $514.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $148.49 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The business had revenue of $1.87 billion during the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. As a group, equities research analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

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