Prudential PLC Has $24.93 Million Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Key Points

• Prudential PLC reduced its stake in S&P Global Inc. by 6.7%, selling 3,544 shares, and now holds 49,074 shares valued at approximately $24.93 million.
• S&P Global Inc. reported a quarterly EPS of $4.43, exceeding estimates, and announced a dividend of $0.96, with a yield of 0.7%.
• Analysts have varied price targets for S&P Global, with the consensus rating being a "Moderate Buy" and an average price target of $611.69.

Prudential PLC trimmed its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,074 shares of the business services provider's stock after selling 3,544 shares during the period. Prudential PLC's holdings in S&P Global were worth $24,934,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPGI. Nuveen LLC acquired a new stake in shares of S&P Global in the 1st quarter valued at $1,103,665,000. GAMMA Investing LLC boosted its stake in S&P Global by 60,982.3% in the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in S&P Global by 70.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after purchasing an additional 670,392 shares in the last quarter. Northern Trust Corp boosted its stake in S&P Global by 19.1% in the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after purchasing an additional 525,347 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&P Global in the fourth quarter worth $238,503,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Trading Up 0.6%

Shares of SPGI stock traded up $3.47 on Wednesday, reaching $562.53. The company had a trading volume of 1,047,388 shares, compared to its average volume of 1,197,488. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $171.74 billion, a PE ratio of 43.27, a PEG ratio of 2.99 and a beta of 1.19. The company has a 50-day moving average of $528.18 and a 200-day moving average of $512.02. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $566.56.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The company 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%. S&P Global's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.04 EPS. On average, equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. S&P Global's dividend payout ratio is 29.54%.

Analyst Ratings Changes

SPGI has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective 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. Oppenheimer boosted their price objective on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. UBS Group upped their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $611.69.

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.