Convergence Investment Partners LLC Purchases 1,124 Shares of S&P Global Inc. (NYSE:SPGI)

Convergence Investment Partners LLC increased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 207.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,667 shares of the business services provider's stock after purchasing an additional 1,124 shares during the period. Convergence Investment Partners LLC's holdings in S&P Global were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SPGI. Norges Bank acquired a new position in shares of S&P Global during the 4th quarter worth about $1,725,084,000. GAMMA Investing LLC lifted its position in shares of S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares during the last quarter. Northern Trust Corp raised its holdings in S&P Global by 19.1% in the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock valued at $1,631,568,000 after acquiring an additional 525,347 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&P Global in the 4th quarter valued at approximately $238,503,000. Finally, BlueSpruce Investments LP acquired a new position in S&P Global in the 4th quarter valued at approximately $178,858,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SPGI shares. Stifel Nicolaus cut their price target on S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Oppenheimer upped their price target on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. UBS Group upped their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their price target on S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Finally, Bank of America started coverage on S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $601.07.

Insider Buying and Selling

In related news, EVP Sally Moore sold 500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

S&P Global Price Performance

Shares of SPGI traded up $4.13 during mid-day trading on Friday, reaching $534.98. The company had a trading volume of 788,259 shares, compared to its average volume of 1,285,473. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company's 50-day moving average is $518.23 and its 200-day moving average is $507.07. The company has a market capitalization of $164.08 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.53 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. S&P Global's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.01 EPS. On average, equities analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.72%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

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.