Mirae Asset Global Investments Co. Ltd. Buys 85,303 Shares of S&P Global Inc. $SPGI

Key Points

• Mirae Asset Global Investments purchased 85,303 shares of S&P Global during the third quarter, valued at approximately $33.6 million. Institutional investors collectively own 87.17% of the company.
• S&P Global exceeded quarterly expectations, reporting $4.58 in earnings per share and $3.68 billion in revenue, with revenue up 6.8% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $522.24 versus the stock’s reported price of $466.46. The company also declared a quarterly dividend of $0.97 per share.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in S&P Global Inc. (NYSE:SPGI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 85,303 shares of the business services provider's stock, valued at approximately $33,649,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in shares of S&P Global during the second quarter worth $865,892,000. EdgePoint Investment Group Inc. acquired a new stake in shares of S&P Global during the 1st quarter valued at $702,911,000. Soroban Capital Partners LP boosted its holdings in shares of 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 in the last quarter. Veritas Asset Management LLP bought a new stake in S&P Global during the 2nd quarter worth $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in S&P Global during the 2nd quarter worth $164,700,000. Institutional investors own 87.17% of the company's stock.

S&P Global Price Performance

SPGI stock opened at $466.46 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.74. The company's 50-day moving average is $421.62 and its 200-day moving average is $431.64. The stock has a market capitalization of $135.23 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. S&P Global Inc. has a 1 year low of $381.61 and a 1 year high of $552.25.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, October 27th. The business services provider reported $4.58 earnings per share for the quarter, topping analysts' consensus estimates of $4.43 by $0.15. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.73 EPS. Equities research analysts expect that S&P Global Inc. will post 17.89 EPS for the current fiscal year.

S&P Global Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Evercore reaffirmed an "outperform" rating on shares of S&P Global in a research note on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $510.00 target price on shares of S&P Global in a research report on Wednesday, August 26th. Mizuho reduced their target price on shares of S&P Global from $554.00 to $531.00 and set an "outperform" rating on the stock in a report on Monday, October 5th. BMO Capital Markets decreased their price target on shares of S&P Global from $505.00 to $500.00 and set an "outperform" rating for the company in a research report on Tuesday, October 13th. Finally, Stifel Nicolaus raised their price target on shares of S&P Global from $489.00 to $521.00 and gave the company a "buy" rating in a research note on Friday, July 17th. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, S&P Global presently has a consensus rating of "Moderate Buy" and an average target price of $522.24.

About S&P Global

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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