Mackenzie Financial Corp Sells 10,411 Shares of S&P Global Inc. (NYSE:SPGI)

Key Points

• Mackenzie Financial Corp has reduced its stake in S&P Global Inc. by 0.9%, now holding 1,154,315 shares, which represent about 0.8% of its portfolio.
• Multiple hedge funds have significantly increased their positions in S&P Global, with GAMMA Investing LLC boosting its stake by an extraordinary 60,982.3%.
• S&P Global has received multiple price target upgrades, with UBS Group setting a new target of $620.00 and maintaining a "buy" rating.

Mackenzie Financial Corp decreased its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,154,315 shares of the business services provider's stock after selling 10,411 shares during the period. S&P Global accounts for about 0.8% of Mackenzie Financial Corp's portfolio, making the stock its 26th biggest holding. Mackenzie Financial Corp owned approximately 0.38% of S&P Global worth $586,507,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in S&P Global by 60,982.3% during 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 buying an additional 2,135,599 shares during the last quarter. Northern Trust Corp boosted its stake in S&P Global by 19.1% during the fourth 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in S&P Global during the fourth quarter valued at approximately $238,503,000. BlueSpruce Investments LP bought a new position in S&P Global during the fourth quarter valued at approximately $178,858,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 357,790 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

SPGI has been the topic of a number of recent research reports. UBS Group upped their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price objective on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Argus upgraded S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Robert W. Baird decreased their price objective on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, S&P Global currently has an average rating of "Moderate Buy" and an average price target of $601.07.

S&P Global Trading Up 0.8%

Shares of NYSE SPGI opened at $534.98 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90. The business's 50 day moving average price is $518.48 and its 200-day moving average price is $507.53. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $545.39. The company has a market cap of $164.08 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.58 and a beta of 1.19.

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

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.72%. S&P Global's payout ratio is currently 30.16%.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

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.

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