Weitz Investment Management Inc. Reduces Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Weitz Investment Management Inc. reduced its stake in S&P Global Inc. by 84.9%, selling 40,000 shares and holding 7,140 shares worth approximately $3.63 million at the end of the quarter.
• S&P Global reported earnings of $4.43 EPS, exceeding expectations, with revenue reaching $3.76 billion, a 5.8% increase year-over-year.
• The firm declared a quarterly dividend of $0.96 per share, translating to a 0.7% yield, and scheduled payment on September 10th for investors of record by August 26th.

Weitz Investment Management Inc. lowered its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 84.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,140 shares of the business services provider's stock after selling 40,000 shares during the period. Weitz Investment Management Inc.'s holdings in S&P Global were worth $3,628,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global in the fourth quarter worth $25,000. Cheviot Value Management LLC bought a new stake in S&P Global in the 1st quarter worth about $26,000. Anderson Financial Strategies LLC bought a new position in S&P Global during the 4th quarter valued at about $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of S&P Global during the 1st quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Up 0.0%

NYSE:SPGI traded up $0.01 during mid-day trading on Tuesday, reaching $563.03. The company's stock had a trading volume of 1,462,586 shares, compared to its average volume of 1,103,098. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $566.13. The stock has a fifty day moving average of $521.70 and a 200-day moving average of $509.60. The firm has a market capitalization of $171.89 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 3.01 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. S&P Global's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.04 earnings per share. Equities research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPGI shares. Barclays boosted their price target on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Bank of America initiated coverage on shares of S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective on the stock. Robert W. Baird dropped their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. 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 research report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $611.69.

S&P Global 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.