S&P Global Inc. $SPGI Stock: Sumitomo Mitsui Trust Group Inc. Cuts Position

Key Points

• Sumitomo Mitsui Trust Group reduced its S&P Global stake by 1.3%, selling 9,013 shares and retaining 664,782 shares valued at approximately $262.2 million. Institutional investors collectively own 87.17% of the company.
• S&P Global reported quarterly EPS of $4.58, exceeding the $4.43 analyst consensus, while revenue rose 6.8% year over year to $3.68 billion.
• The company declared a quarterly dividend of $0.97 per share, representing a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $522.24.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 664,782 shares of the business services provider's stock after selling 9,013 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of S&P Global worth $262,237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in S&P Global during the second quarter valued at $865,892,000. EdgePoint Investment Group Inc. acquired a new position in S&P Global in the 1st quarter worth about $702,911,000. Soroban Capital Partners LP increased its position in S&P Global by 260.3% in the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock worth $718,247,000 after purchasing an additional 1,219,990 shares during the last quarter. Veritas Asset Management LLP purchased a new stake in shares of S&P Global during the 2nd quarter worth about $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of S&P Global during the 2nd quarter worth about $164,700,000. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Stock Up 1.3%

S&P Global stock opened at $466.46 on Friday. The firm has a market cap of $135.23 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.95. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $552.25. The firm has a fifty day moving average price of $421.62 and a two-hundred day moving average price of $431.64.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The business's quarterly 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 earnings per share. As a group, analysts forecast that S&P Global Inc. will post 17.89 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed 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. This represents a $3.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 25th. S&P Global's payout ratio is currently 23.14%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho dropped their price objective on S&P Global from $554.00 to $531.00 and set an "outperform" rating on the stock in a report on Monday, October 5th. Bank of America decreased their target price on shares of S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of S&P Global in a research note on Friday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of S&P Global from $520.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Evercore reiterated an "outperform" rating on shares of S&P Global in a report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $522.24.

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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