Texas Permanent School Fund Corp Sells 305 Shares of S&P Global Inc. (NYSE:SPGI)

Texas Permanent School Fund Corp trimmed its position in S&P Global Inc. (NYSE:SPGI) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,129 shares of the business services provider’s stock after selling 305 shares during the quarter. Texas Permanent School Fund Corp’s holdings in S&P Global were worth $31,538,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new stake in shares of S&P Global during the fourth quarter worth $26,000. Pineridge Advisors LLC bought a new stake in shares of S&P Global during the fourth quarter worth $26,000. Valued Wealth Advisors LLC bought a new stake in shares of S&P Global during the fourth quarter worth $28,000. Oliver Lagore Vanvalin Investment Group grew its stake in shares of S&P Global by 64.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock worth $28,000 after buying an additional 25 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in shares of S&P Global during the third quarter worth $33,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Stifel Nicolaus boosted their price objective on shares of S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley boosted their price objective on shares of S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price objective on shares of S&P Global in a research note on Friday, June 21st. Finally, Oppenheimer boosted their price objective on shares of S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $485.60.

S&P Global Trading Up 1.6 %

SPGI stock traded up $7.23 during midday trading on Thursday, hitting $473.23. The stock had a trading volume of 1,376,081 shares, compared to its average volume of 1,272,109. The business has a fifty day moving average price of $437.63 and a two-hundred day moving average price of $432.82. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $473.26. The firm has a market cap of $148.07 billion, a P/E ratio of 52.67, a price-to-earnings-growth ratio of 2.53 and a beta of 1.16. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share 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 firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. On average, sell-side analysts predict that S&P Global Inc. will post 14.14 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, September 11th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 annualized dividend and a dividend yield of 0.77%. S&P Global’s dividend payout ratio is currently 40.81%.

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.