QRG Capital Management Inc. Purchases 616 Shares of S&P Global Inc. (NYSE:SPGI)

QRG Capital Management Inc. raised its holdings in S&P Global Inc. (NYSE:SPGI) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,993 shares of the business services provider’s stock after purchasing an additional 616 shares during the quarter. QRG Capital Management Inc.’s holdings in S&P Global were worth $8,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.B. Root & Company LLC increased its holdings in shares of S&P Global by 3.6% in the fourth quarter. D.B. Root & Company LLC now owns 662 shares of the business services provider’s stock worth $292,000 after buying an additional 23 shares during the period. Mayflower Financial Advisors LLC grew its position in shares of S&P Global by 3.3% in the 4th quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock worth $315,000 after buying an additional 23 shares during the last quarter. Allworth Financial LP increased its stake in shares of S&P Global by 1.8% during the fourth quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock valued at $598,000 after buying an additional 24 shares during the period. Oakworth Capital Inc. raised its holdings in shares of S&P Global by 31.2% during the fourth quarter. Oakworth Capital Inc. now owns 101 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 24 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in S&P Global by 1.7% in the fourth quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock valued at $655,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of research reports. UBS Group lifted their target price on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of S&P Global in a research note on Friday, June 21st. Oppenheimer boosted their price target on S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a research report on Monday, July 1st. Stifel Nicolaus raised their price objective on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Bank of America increased their target price on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average target price of $490.55.

S&P Global Stock Performance

S&P Global stock traded up $5.89 during mid-day trading on Tuesday, reaching $488.44. 706,554 shares of the stock traded hands, compared to its average volume of 1,267,349. The stock has a market capitalization of $152.83 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day moving average is $440.96 and its 200-day moving average is $433.62. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $488.85.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.33. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. As a group, sell-side analysts predict that S&P Global Inc. will post 14.16 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.75%. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

About S&P Global

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.