Geode Capital Management LLC Has $3.33 Billion Holdings in S&P Global Inc. (NYSE:SPGI)

Geode Capital Management LLC boosted its position in shares of S&P Global Inc. (NYSE:SPGI) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,473,774 shares of the business services provider’s stock after purchasing an additional 113,146 shares during the period. Geode Capital Management LLC owned about 2.09% of S&P Global worth $3,332,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SPGI. International Assets Investment Management LLC lifted its stake in shares of S&P Global by 174,815.4% during the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after acquiring an additional 466,757 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in S&P Global during the 3rd quarter valued at about $224,976,000. FMR LLC boosted its stake in shares of S&P Global by 6.6% in the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after purchasing an additional 369,598 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after buying an additional 360,909 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $513.45 on Tuesday. The firm has a 50 day moving average of $509.41 and a 200-day moving average of $489.01. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $159.32 billion, a PE ratio of 45.32, a PEG ratio of 2.64 and a beta of 1.19.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the firm posted $3.21 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is presently 32.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPGI. BMO Capital Markets lowered their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Evercore ISI started coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective for the company. Oppenheimer increased their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group upped their price target on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $571.31.

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.