State of Michigan Retirement System Lowers Stock Holdings in S&P Global Inc. (NYSE:SPGI)

State of Michigan Retirement System lowered its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,453 shares of the business services provider's stock after selling 700 shares during the quarter. State of Michigan Retirement System's holdings in S&P Global were worth $43,419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Invenio Wealth Partners LLC lifted its position in shares of S&P Global by 4.0% in the 4th quarter. Invenio Wealth Partners LLC now owns 574 shares of the business services provider's stock worth $286,000 after purchasing an additional 22 shares during the period. Retirement Planning Group LLC grew its holdings in S&P Global by 0.4% in the fourth quarter. Retirement Planning Group LLC now owns 5,762 shares of the business services provider's stock worth $2,870,000 after purchasing an additional 22 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in S&P Global by 2.1% in the first quarter. SeaCrest Wealth Management LLC now owns 1,132 shares of the business services provider's stock worth $575,000 after purchasing an additional 23 shares during the last quarter. Gitterman Wealth Management LLC grew its holdings in S&P Global by 5.7% in the fourth quarter. Gitterman Wealth Management LLC now owns 483 shares of the business services provider's stock worth $241,000 after purchasing an additional 26 shares during the last quarter. Finally, Grimes & Company Inc. grew its holdings in S&P Global by 4.9% in the first quarter. Grimes & Company Inc. now owns 561 shares of the business services provider's stock worth $285,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

SPGI has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group upped their target price on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. 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. Finally, Bank of America began coverage on S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $596.79.

S&P Global Price Performance

SPGI opened at $529.72 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $545.39. The company has a 50 day moving average of $515.23 and a two-hundred day moving average of $505.32. The company has a market cap of $162.47 billion, a P/E ratio of 41.61, a P/E/G ratio of 2.57 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results 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. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The business had revenue of $3.78 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

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 of this dividend 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 presently 30.16%.

Insider Transactions at S&P Global

In other S&P Global news, EVP Sally Moore sold 500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

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.

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