Verdence Capital Advisors LLC Decreases Stock Holdings in S&P Global Inc. $SPGI

Verdence Capital Advisors LLC trimmed its position in shares of S&P Global Inc. (NYSE:SPGI) by 16.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024 shares of the business services provider’s stock after selling 203 shares during the period. Verdence Capital Advisors LLC’s holdings in S&P Global were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC raised its holdings in S&P Global by 70,734.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock valued at $1,670,671,000 after buying an additional 3,163,938 shares during the period. Nuveen LLC purchased a new stake in S&P Global during the 1st quarter valued at $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in S&P Global by 70.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider’s stock valued at $826,819,000 after buying an additional 670,392 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in S&P Global by 26.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock valued at $1,497,493,000 after buying an additional 614,809 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in S&P Global by 37.9% during the 1st quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider’s stock valued at $389,283,000 after buying an additional 210,373 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

SPGI opened at $486.76 on Wednesday. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $526.73 and its 200-day simple moving average is $513.98. The company has a market capitalization of $148.61 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.54 and a beta of 1.19.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The business had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. On average, equities research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s dividend payout ratio is 29.54%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPGI. Seaport Res Ptn upgraded S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. UBS Group upped 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. Oppenheimer upped their price objective on S&P Global from $567.00 to $592.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Citigroup upped their price objective on S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on S&P Global from $575.00 to $625.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $615.69.

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.