Dai ichi Life Insurance Company Ltd Trims Position in S&P Global Inc. (NYSE:SPGI)

Dai ichi Life Insurance Company Ltd trimmed its stake in S&P Global Inc. (NYSE:SPGI) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,106 shares of the business services provider’s stock after selling 2,153 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in S&P Global were worth $11,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of S&P Global in the 1st quarter worth approximately $351,774,000. International Assets Investment Management LLC raised its stake in S&P Global by 174,815.4% in the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after buying an additional 466,757 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in S&P Global during the third quarter worth $224,976,000. Assenagon Asset Management S.A. raised its position in shares of S&P Global by 352.2% in 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 acquiring an additional 360,909 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Price Performance

NYSE:SPGI opened at $520.34 on Tuesday. The firm’s fifty day moving average is $509.21 and its two-hundred day moving average is $483.13. The firm has a market cap of $161.46 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 2.63 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global Inc. has a one year low of $407.69 and a one year high of $533.29.

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

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on SPGI shares. UBS Group lifted their target price 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. Wells Fargo & Company lifted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased 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 research report on Friday, October 25th. Royal Bank of Canada increased their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Oppenheimer upped their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus target price of $571.31.

About S&P Global

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.