Nuveen LLC Makes New $1.10 Billion Investment in S&P Global Inc. (NYSE:SPGI)

Key Points

• Nuveen LLC has made a significant investment of approximately $1.1 billion in S&P Global Inc. by purchasing 2,172,141 shares, equating to around 0.71% ownership of the company.
• S&P Global reported earnings of $4.43 per share for its recent quarter, surpassing analysts' expectations and demonstrating a 5.8% revenue growth compared to the previous year.
• The company will issue a quarterly dividend of $0.96 per share on September 10th, reflecting an annualized payout of $3.84 and a yield of 0.7%.

Nuveen LLC purchased a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,172,141 shares of the business services provider's stock, valued at approximately $1,103,665,000. Nuveen LLC owned approximately 0.71% of S&P Global at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in shares of S&P Global in the 1st quarter valued at $2,590,000. Cooper Financial Group acquired a new stake in shares of S&P Global in the 1st quarter valued at $254,000. Strengthening Families & Communities LLC boosted its stake in shares of S&P Global by 3.4% in the 1st quarter. Strengthening Families & Communities LLC now owns 2,726 shares of the business services provider's stock valued at $1,359,000 after purchasing an additional 89 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of S&P Global by 41.8% in the 1st quarter. King Luther Capital Management Corp now owns 145,264 shares of the business services provider's stock valued at $73,809,000 after purchasing an additional 42,812 shares in the last quarter. Finally, Magellan Asset Management Ltd acquired a new stake in shares of S&P Global in the 1st quarter valued at $3,116,000. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $556.99 on Friday. The stock has a market capitalization of $170.05 billion, a P/E ratio of 42.85, a P/E/G ratio of 2.98 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $566.42. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $525.43 and a two-hundred day moving average price of $511.06.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.25. The firm had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.04 EPS. Equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

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. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's payout ratio is currently 29.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Oppenheimer boosted their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group lifted their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird reduced their price target on shares of 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. Finally, Argus upgraded shares of S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, S&P Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $611.69.

About S&P Global

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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