OVERSEA CHINESE BANKING Corp Ltd Has $34.67 Million Holdings in S&P Global Inc. (NYSE:SPGI)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 299.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,229 shares of the business services provider's stock after buying an additional 51,165 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in S&P Global were worth $34,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in S&P Global during the fourth quarter valued at approximately $1,725,084,000. GAMMA Investing LLC raised its position 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 purchasing an additional 2,135,599 shares in the last quarter. Northern Trust Corp raised its position 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 purchasing an additional 525,347 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&P Global during the fourth quarter valued at approximately $238,503,000. Finally, BlueSpruce Investments LP acquired a new position in S&P Global during the fourth quarter valued at approximately $178,858,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Bank of America initiated coverage on shares of S&P Global in a research note on Thursday, April 10th. They set a "buy" rating and a $600.00 target price on the stock. Morgan Stanley boosted their target price on shares of S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Robert W. Baird decreased their target price on shares of 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. Finally, Wells Fargo & Company boosted their target price on shares of S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $596.79.

S&P Global Stock Performance

Shares of SPGI opened at $527.05 on Monday. 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 fifty day simple moving average is $515.64 and its two-hundred day simple moving average is $505.49. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The stock has a market capitalization of $161.65 billion, a P/E ratio of 41.40, a price-to-earnings-growth ratio of 2.56 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 analysts' consensus estimates of $4.23 by $0.14. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $4.01 EPS. The business's revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.73%. S&P Global's payout ratio is currently 30.16%.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president directly owned 5,131 shares in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company's stock.

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.

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