S&P Global Inc. $SPGI Stock: Bank Julius Baer & Co. Ltd Zurich Lowers Holdings

Key Points

• Bank Julius Baer reduced its S&P Global stake by 11.1% in the third quarter, selling 18,743 shares and retaining 149,878 shares worth approximately $59.1 million.
• Institutional investors hold 87.17% of S&P Global’s outstanding shares, with State Street among the largest holders and Soroban Capital Partners increasing its position by 260.3%.
• S&P Global exceeded quarterly earnings and revenue estimates, while analysts maintain a “Moderate Buy” consensus with a $523.35 price target; the company also declared a $0.97 quarterly dividend.

Bank Julius Baer & Co. Ltd Zurich reduced its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,878 shares of the business services provider's stock after selling 18,743 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.05% of S&P Global worth $59,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPGI. State Street Corp boosted its holdings in shares of S&P Global by 2.2% in the 2nd quarter. State Street Corp now owns 14,482,789 shares of the business services provider's stock valued at $5,898,261,000 after acquiring an additional 307,255 shares during the last quarter. Unisphere Establishment grew its position in S&P Global by 6.5% during the first quarter. Unisphere Establishment now owns 2,130,050 shares of the business services provider's stock valued at $905,995,000 after buying an additional 130,050 shares during the period. Bank of America Corp DE purchased a new position in S&P Global in the second quarter valued at $865,892,000. Soroban Capital Partners LP increased its holdings in S&P Global by 260.3% in the first quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock valued at $718,247,000 after buying an additional 1,219,990 shares in the last quarter. Finally, EdgePoint Investment Group Inc. purchased a new position in S&P Global in the first quarter valued at $702,911,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

NYSE:SPGI opened at $474.86 on Tuesday. S&P Global Inc. has a 12 month low of $381.61 and a 12 month high of $552.25. The stock has a 50 day moving average of $422.50 and a two-hundred day moving average of $431.31. The company has a current ratio of 0.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The firm has a market cap of $137.66 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating the consensus estimate of $4.43 by $0.15. The firm had revenue of $3.68 billion during 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 firm's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.73 EPS. On average, analysts expect that S&P Global Inc. will post 17.89 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, November 25th. This represents a $3.88 dividend on an annualized basis and a yield of 0.8%. S&P Global's payout ratio is presently 23.14%.

Analyst Ratings Changes

SPGI has been the topic of several recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $510.00 target price on shares of S&P Global in a research note on Wednesday, August 26th. JPMorgan Chase & Co. lifted their price target on S&P Global from $520.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. Citigroup upped their price target on S&P Global from $500.00 to $520.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. Zacks Research upgraded S&P Global from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $490.00 price objective on shares of S&P Global in a report on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $523.35.

About S&P Global

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.

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