Richardson Financial Services Inc. Acquires Shares of 956 S&P Global Inc. (NYSE:SPGI)

Richardson Financial Services Inc. acquired a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 956 shares of the business services provider’s stock, valued at approximately $421,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SPGI. Norges Bank acquired a new position in shares of S&P Global in the fourth quarter worth about $1,652,862,000. Wellington Management Group LLP lifted its position in shares of S&P Global by 13.2% in the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after purchasing an additional 881,215 shares in the last quarter. Capital International Investors lifted its position in shares of S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock worth $2,423,762,000 after purchasing an additional 616,732 shares in the last quarter. Morgan Stanley raised its position in S&P Global by 8.2% during the third quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after acquiring an additional 428,737 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in S&P Global by 42.7% in the third quarter. Envestnet Asset Management Inc. now owns 1,033,443 shares of the business services provider’s stock valued at $377,630,000 after acquiring an additional 309,123 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Price Performance

NYSE SPGI traded down $2.79 on Friday, hitting $434.40. 789,413 shares of the company were exchanged, compared to its average volume of 975,415. The firm has a 50 day moving average of $426.86 and a two-hundred day moving average of $430.22. The company has a market cap of $135.92 billion, a P/E ratio of 48.70, a P/E/G ratio of 2.43 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $461.16.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.33. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. On average, equities analysts predict that S&P Global Inc. will post 14.1 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $3.64 dividend on an annualized basis and a yield of 0.84%. S&P Global’s payout ratio is presently 40.81%.

Analysts Set New Price Targets

A number of research firms have issued reports on SPGI. BMO Capital Markets lifted their target price on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Oppenheimer boosted their price objective on shares of S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $500.00 price objective on shares of S&P Global in a research note on Friday, May 24th. Finally, Barclays boosted their price objective on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $467.89.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.