Ritholtz Wealth Management Increases Position in S&P Global Inc. $SPGI

Key Points

• Ritholtz Wealth Management increased its stake in S&P Global Inc. by 10.1%, owning a total of 9,209 shares valued at approximately $4.86 million.
• Analysts have raised their price targets for S&P Global, with Citigroup setting a new target of $635 and JPMorgan maintaining an "overweight" rating.
• S&P Global is set to pay a quarterly dividend of $0.96 per share on December 10th, with a payout ratio of 29.54%.

Ritholtz Wealth Management raised its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 10.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,209 shares of the business services provider's stock after purchasing an additional 842 shares during the period. Ritholtz Wealth Management's holdings in S&P Global were worth $4,856,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cheviot Value Management LLC purchased a new position in shares of S&P Global during the first quarter worth approximately $26,000. Costello Asset Management INC purchased a new position in S&P Global in the 1st quarter worth $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in S&P Global in the second quarter worth $26,000. Smallwood Wealth Investment Management LLC bought a new stake in S&P Global in the first quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after buying an additional 31 shares during the period. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

SPGI has been the topic of several analyst reports. Citigroup lifted their price objective on S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised their price target on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of S&P Global in a research report on Wednesday, October 8th. Seaport Res Ptn raised S&P Global to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, Barclays raised their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $615.69.

S&P Global Price Performance

Shares of SPGI stock opened at $486.76 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The firm has a market cap of $148.61 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.54 and a beta of 1.19. The business's 50 day moving average price is $526.73 and its 200-day moving average price is $513.98.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. The company had revenue of $1.87 billion during the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. On average, equities research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global's payout ratio is presently 29.54%.

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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