International Assets Investment Management LLC Acquires 249,082 Shares of S&P Global Inc. $SPGI

Key Points

• International Assets Investment Management LLC increased its S&P Global stake by 249,082 shares, a 27,133.1% jump, bringing its holdings to 250,000 shares valued at approximately $98.6 million.
• Analysts remain broadly positive: 18 rate the stock a Buy and two a Hold, producing a consensus “Moderate Buy” rating and an average price target of $522.24.
• S&P Global exceeded quarterly earnings and revenue expectations, reporting $4.58 in EPS and $3.68 billion in revenue, while declaring a quarterly dividend of $0.97 per share.

International Assets Investment Management LLC raised its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 27,133.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the business services provider's stock after purchasing an additional 249,082 shares during the period. S&P Global accounts for about 0.7% of International Assets Investment Management LLC's holdings, making the stock its 23rd biggest position. International Assets Investment Management LLC owned 0.08% of S&P Global worth $98,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in S&P Global by 2.2% in the 2nd quarter. State Street Corp now owns 14,482,789 shares of the business services provider's stock worth $5,898,261,000 after buying an additional 307,255 shares during the period. Unisphere Establishment grew its stake in S&P Global by 6.5% in the 1st quarter. Unisphere Establishment now owns 2,130,050 shares of the business services provider's stock valued at $905,995,000 after buying an additional 130,050 shares in the last quarter. Bank of America Corp DE bought a new stake in S&P Global during the 2nd quarter valued at $865,892,000. Soroban Capital Partners LP raised its holdings in S&P Global by 260.3% during the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock valued at $718,247,000 after acquiring an additional 1,219,990 shares during the period. Finally, EdgePoint Investment Group Inc. purchased a new stake in shares of S&P Global during the first quarter worth $702,911,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on S&P Global from $520.00 to $550.00 and gave the stock an "overweight" rating in a report on Wednesday. Barclays decreased their price objective on S&P Global from $555.00 to $553.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded S&P Global to a "hold" rating in a research note on Saturday, September 5th. UBS Group dropped their price objective on S&P Global from $550.00 to $525.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Citigroup raised their target price on S&P Global from $500.00 to $520.00 and gave the stock a "buy" rating in a research note on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, S&P Global currently has a consensus rating of "Moderate Buy" and an average price target of $522.24.

S&P Global Stock Performance

S&P Global stock opened at $466.46 on Friday. S&P Global Inc. has a 1-year low of $381.61 and a 1-year high of $552.25. The company has a current ratio of 0.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $135.23 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. The firm's 50 day simple moving average is $421.62 and its 200 day simple moving average is $431.64.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating the consensus estimate of $4.43 by $0.15. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $4.73 EPS. As a group, analysts expect that S&P Global Inc. will post 17.87 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $3.88 annualized dividend and a yield of 0.8%. S&P Global's dividend payout ratio (DPR) is currently 23.14%.

S&P Global 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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