Mirae Asset Global Investments Co. Ltd. Reduces Stake in S&P Global Inc. (NYSE:SPGI)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,845 shares of the business services provider's stock after selling 1,504 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in S&P Global were worth $28,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global during the 4th quarter worth approximately $25,000. Anderson Financial Strategies LLC purchased a new position in shares of S&P Global during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of S&P Global during the 4th quarter worth approximately $31,000. Alpine Bank Wealth Management purchased a new position in shares of S&P Global during the 1st quarter worth approximately $33,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of S&P Global by 131.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after acquiring an additional 38 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

SPGI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on S&P Global from $618.00 to $565.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company upped their price target on S&P Global from $607.00 to $627.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Stifel Nicolaus cut their price target on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Mizuho initiated coverage on S&P Global in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $599.00 price target on the stock. Finally, Robert W. Baird cut their price target on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $592.71.

Insider Activity

In other 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 value of $255,215.00. Following the transaction, the executive vice president now directly owns 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 filing with the SEC, which is available at this link. Insiders own 0.10% of the company's stock.

S&P Global Stock Up 0.6%

SPGI stock traded up $3.21 during midday trading on Friday, hitting $518.23. The company's stock had a trading volume of 2,251,581 shares, compared to its average volume of 1,230,745. The company has a market cap of $158.94 billion, a PE ratio of 40.71, a P/E/G ratio of 2.52 and a beta of 1.20. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $506.39 and its 200-day moving average is $503.48.

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

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.96 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.74%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

S&P Global Company 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.