S&P Global Inc. $SPGI Stake Lifted by Nippon Life Global Investors Americas Inc.

Key Points

• Nippon Life Global Investors Americas increased its S&P Global stake by 28.6% in the third quarter, bringing its holdings to 36,110 shares valued at approximately $14.2 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 18 Buy ratings and two Hold ratings. S&P Global has a “Moderate Buy” consensus rating and an average price target of $522.24.
• S&P Global exceeded quarterly expectations, reporting adjusted EPS of $4.58 versus the $4.43 consensus and revenue of $3.68 billion. The company also declared a quarterly dividend of $0.97 per share, equivalent to a 0.8% annualized yield.

Nippon Life Global Investors Americas Inc. increased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 28.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,110 shares of the business services provider's stock after purchasing an additional 8,030 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in S&P Global were worth $14,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SPGI. Dorsey Asset Management LLC bought a new position in S&P Global during the first quarter valued at approximately $94,716,000. NewEdge Advisors LLC grew its position in S&P Global by 17.9% in the 1st quarter. NewEdge Advisors LLC now owns 20,005 shares of the business services provider's stock worth $8,509,000 after purchasing an additional 3,038 shares during the period. Principal Financial Group Inc. grew its position in S&P Global by 12.9% in the 2nd quarter. Principal Financial Group Inc. now owns 572,659 shares of the business services provider's stock worth $233,228,000 after purchasing an additional 65,529 shares during the period. Quantitative Investment Management LLC grew its position in S&P Global by 127.4% in the 2nd quarter. Quantitative Investment Management LLC now owns 9,033 shares of the business services provider's stock worth $3,678,000 after purchasing an additional 5,061 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in S&P Global during the 2nd quarter valued at $18,361,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPGI. Wall Street Zen raised S&P Global to a "hold" rating in a report on Saturday, September 5th. Bank of America cut their price objective on S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on S&P Global from $520.00 to $550.00 and gave the company an "overweight" rating in a research report on Wednesday, October 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $510.00 target price on shares of S&P Global in a report on Wednesday, August 26th. Finally, Morgan Stanley raised their target price on S&P Global from $477.00 to $515.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 28th. Eighteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, S&P Global has an average rating of "Moderate Buy" and an average target price of $522.24.

S&P Global Price Performance

NYSE SPGI opened at $466.46 on Monday. The stock has a market cap of $135.23 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.21 and a beta of 1.09. S&P Global Inc. has a 12 month low of $381.61 and a 12 month high of $552.25. The company's 50 day moving average is $421.62 and its two-hundred day moving average is $431.64. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $0.15. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.64 billion. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.73 earnings per share. As a group, research analysts anticipate that S&P Global Inc. will post 17.89 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 25th. S&P Global's dividend payout ratio (DPR) is presently 23.14%.

S&P Global Company Profile

S&P Global NYSE: SPGI is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.