Cumberland Partners Ltd Decreases Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Key Points

• Cumberland Partners Ltd reduced its stake in S&P Global Inc. by 1.4%, holding 97,000 shares valued at approximately $49.29 million, making it the fund's 5th largest holding.
• Insider transactions revealed that EVP Sally Moore sold 500 shares for a total of $255,215, reflecting an 8.88% decrease in her ownership.
• Analyst ratings for S&P Global show a consensus of 13 buy ratings, 2 hold ratings, and 1 strong buy rating, with a consensus price target of $611.69.

Cumberland Partners Ltd decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,000 shares of the business services provider's stock after selling 1,423 shares during the quarter. S&P Global makes up about 3.8% of Cumberland Partners Ltd's holdings, making the stock its 5th biggest position. Cumberland Partners Ltd's holdings in S&P Global were worth $49,286,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Northern Trust Corp grew its stake 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 buying an additional 525,347 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in S&P Global by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider's stock valued at $1,529,653,000 after acquiring an additional 357,790 shares during the period. Nuveen Asset Management LLC grew its position in shares of S&P Global by 11.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,184,312 shares of the business services provider's stock valued at $1,087,853,000 after purchasing an additional 224,294 shares during the last quarter. GAMMA Investing LLC grew its position in shares of S&P Global by 60,982.3% in the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock valued at $1,086,877,000 after purchasing an additional 2,135,599 shares during the last quarter. Finally, Valley Forge Capital Management LP increased its stake in shares of S&P Global by 2.9% in the fourth quarter. Valley Forge Capital Management LP now owns 1,755,098 shares of the business services provider's stock worth $874,091,000 after purchasing an additional 49,200 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent analyst reports. Bank of America started coverage on S&P Global in a research note on Thursday, April 10th. They set a "buy" rating and a $600.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company upped their target price on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday. UBS Group raised their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Argus raised shares of S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $611.69.

S&P Global Price Performance

SPGI stock traded up $16.89 during trading on Monday, hitting $562.55. The company had a trading volume of 1,714,224 shares, compared to its average volume of 1,296,904. The company has a fifty day moving average price of $520.65 and a two-hundred day moving average price of $509.18. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $563.02. The company has a market cap of $172.53 billion, a P/E ratio of 43.27, a P/E/G ratio of 2.92 and a beta of 1.19. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same period last year, the business earned $4.04 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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

S&P Global Profile

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.