Factory Mutual Insurance Co. Buys New Position in S&P Global Inc. $SPGI

Key Points

• Factory Mutual Insurance initiated a position in S&P Global, buying 43,550 shares valued at approximately $17.2 million in the third quarter.
• S&P Global beat quarterly earnings and revenue expectations, reporting EPS of $4.58 and revenue of $3.68 billion; revenue rose 6.8% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $523.35. The company also declared a quarterly dividend of $0.97 per share.

Factory Mutual Insurance Co. purchased a new position in S&P Global Inc. (NYSE:SPGI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 43,550 shares of the business services provider's stock, valued at approximately $17,179,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hibernia Wealth Partners LLC raised its position in shares of S&P Global by 3.3% during the 1st quarter. Hibernia Wealth Partners LLC now owns 754 shares of the business services provider's stock valued at $321,000 after buying an additional 24 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in shares of S&P Global by 0.7% during the 3rd quarter. Sage Rhino Capital LLC now owns 3,848 shares of the business services provider's stock worth $1,518,000 after acquiring an additional 25 shares during the last quarter. Petros Family Wealth LLC grew its position in S&P Global by 3.3% in the third quarter. Petros Family Wealth LLC now owns 775 shares of the business services provider's stock worth $306,000 after acquiring an additional 25 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in S&P Global by 1.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 2,272 shares of the business services provider's stock worth $925,000 after acquiring an additional 26 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its position in S&P Global by 31.4% in the first quarter. Frazier Financial Advisors LLC now owns 113 shares of the business services provider's stock worth $48,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $465.58 on Wednesday. The company has a 50-day moving average price of $423.10 and a 200-day moving average price of $430.91. The company has a market cap of $134.97 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54. S&P Global Inc. has a 12 month low of $381.61 and a 12 month high of $552.25.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.15. The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.64 billion. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The business's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $4.73 EPS. As a group, equities analysts anticipate that S&P Global Inc. will post 17.89 EPS for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $3.88 annualized dividend and a yield of 0.8%. S&P Global's payout ratio is 23.14%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of S&P Global in a research note on Friday, October 2nd. Bank of America dropped their price target on S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Wall Street Zen upgraded S&P Global to a "hold" rating in a report on Saturday, September 5th. BMO Capital Markets cut their price objective on S&P Global from $505.00 to $500.00 and set an "outperform" rating for the company in a report on Tuesday, October 13th. Finally, Barclays increased their price objective on S&P Global from $553.00 to $572.00 and gave the company an "overweight" rating in a research report on Monday. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $523.35.

S&P Global Company Profile

S&P Global NYSE: SPGI is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.

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