Mediolanum International Funds Ltd Has $14.94 Million Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in S&P Global Inc. by 2.2%, selling 680 shares and ending with 29,733 shares valued at approximately $14.9 million.
• S&P Global reported a Q1 earnings per share (EPS) of $4.37, beating analysts' expectations by $0.14, with revenue of $3.78 billion.
• The company declared a quarterly dividend of $0.96, which will be paid on September 10th, representing an annual yield of 0.72%.

Mediolanum International Funds Ltd cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,733 shares of the business services provider's stock after selling 680 shares during the quarter. Mediolanum International Funds Ltd's holdings in S&P Global were worth $14,941,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in S&P Global during the 4th quarter valued at approximately $25,000. Anderson Financial Strategies LLC bought a new stake in S&P Global in the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC bought a new stake in S&P Global in the 1st quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC increased its stake in S&P Global by 103.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of S&P Global in the 1st quarter worth approximately $33,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 0.7%

Shares of S&P Global stock traded up $3.66 during trading hours on Wednesday, reaching $534.45. 348,880 shares of the company's stock were exchanged, compared to its average volume of 1,274,708. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $545.39. The firm has a market capitalization of $163.91 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19. The company has a fifty day moving average of $518.79 and a 200-day moving average of $508.02. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

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 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.01 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.72%. S&P Global's dividend payout ratio is currently 30.16%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPGI. UBS Group boosted their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Oppenheimer increased their price objective on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 price target on the stock. JPMorgan Chase & Co. raised their target price on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Morgan Stanley lifted their target price on S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Two research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $601.07.

Insider Transactions at S&P Global

In other news, EVP Sally Moore sold 500 shares of the firm's 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 $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.