Miracle Mile Advisors LLC Acquires 617 Shares of S&P Global Inc. (NYSE:SPGI)

Miracle Mile Advisors LLC lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 22,113 shares of the business services provider’s stock after purchasing an additional 617 shares during the quarter. Miracle Mile Advisors LLC’s holdings in S&P Global were worth $11,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SPGI. Norges Bank acquired a new stake in S&P Global during the 4th quarter worth approximately $1,725,084,000. GAMMA Investing LLC lifted its holdings in S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider’s stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in S&P Global during the 4th quarter worth approximately $527,207,000. Proficio Capital Partners LLC lifted its holdings in S&P Global by 71,024.1% during the 4th quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock worth $308,525,000 after purchasing an additional 618,620 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in S&P Global by 19.1% during the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock worth $1,631,568,000 after purchasing an additional 525,347 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several research reports. Bank of America initiated coverage on S&P Global in a report on Thursday, April 10th. They set a “buy” rating and a $600.00 price target for the company. BMO Capital Markets lifted their price target on S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wall Street Zen cut S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Argus raised S&P Global to a “strong-buy” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company lifted their price objective on S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $592.71.

Insider Buying and Selling

In related news, EVP Sally Moore sold 500 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president now owns 5,131 shares in the company, valued at $2,619,016.33. The trade was a 8.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Price Performance

S&P Global stock opened at $519.58 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. S&P Global Inc. has a 52 week low of $425.49 and a 52 week high of $545.39. The stock has a market capitalization of $159.36 billion, a P/E ratio of 42.07, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The stock has a fifty day moving average of $492.79 and a 200-day moving average of $504.25.

S&P Global (NYSE:SPGI) last posted its quarterly 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 return on equity of 14.33% and a net margin of 27.12%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the firm earned $4.01 EPS. S&P Global’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 28th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is currently 30.16%.

About S&P Global

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.