Reliant Investment Management LLC Decreases Position in S&P Global Inc. $SPGI

Reliant Investment Management LLC trimmed its stake in shares of S&P Global Inc. (NYSE:SPGI) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,343 shares of the business services provider’s stock after selling 30 shares during the period. S&P Global makes up 2.4% of Reliant Investment Management LLC’s investment portfolio, making the stock its 23rd largest holding. Reliant Investment Management LLC’s holdings in S&P Global were worth $5,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Principle Wealth Partners LLC raised its holdings in shares of S&P Global by 9.2% during the second quarter. Principle Wealth Partners LLC now owns 1,297 shares of the business services provider’s stock valued at $684,000 after purchasing an additional 109 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of S&P Global by 4.0% during the second quarter. Forum Financial Management LP now owns 3,098 shares of the business services provider’s stock valued at $1,634,000 after purchasing an additional 120 shares during the last quarter. Ethic Inc. raised its holdings in shares of S&P Global by 1.3% during the second quarter. Ethic Inc. now owns 51,486 shares of the business services provider’s stock valued at $26,655,000 after purchasing an additional 655 shares during the last quarter. Caliber Wealth Management LLC KS raised its holdings in shares of S&P Global by 0.7% during the second quarter. Caliber Wealth Management LLC KS now owns 3,404 shares of the business services provider’s stock valued at $1,795,000 after purchasing an additional 22 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC raised its holdings in shares of S&P Global by 1.2% during the second quarter. Birch Hill Investment Advisors LLC now owns 105,119 shares of the business services provider’s stock valued at $55,428,000 after purchasing an additional 1,197 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPGI has been the subject of several research reports. Barclays boosted their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley upped their target price on shares of S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Mizuho upped their target price on shares of S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Wells Fargo & Company upped their target price on shares of S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $614.23.

S&P Global Stock Performance

SPGI opened at $479.55 on Thursday. The firm has a market cap of $146.41 billion, a P/E ratio of 36.89, a PEG ratio of 2.56 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The company has a 50 day simple moving average of $517.00 and a two-hundred day simple moving average of $513.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

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 for the quarter. The business had revenue of $1.87 billion during the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. Equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a $0.96 dividend. 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 presently 29.54%.

S&P Global Profile

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.