Alerus Financial NA Sells 597 Shares of S&P Global Inc. (NYSE:SPGI)

Alerus Financial NA reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 3.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,601 shares of the business services provider’s stock after selling 597 shares during the quarter. Alerus Financial NA’s holdings in S&P Global were worth $8,060,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SPGI. FMR LLC increased its position in shares of S&P Global by 6.6% during the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after buying an additional 369,598 shares during the period. Legal & General Group Plc grew its holdings in shares of S&P Global by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after acquiring an additional 29,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of S&P Global by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,713,617 shares of the business services provider’s stock worth $1,401,909,000 after acquiring an additional 28,458 shares during the period. Ameriprise Financial Inc. raised its position in shares of S&P Global by 13.5% in 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 acquiring an additional 298,645 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of S&P Global by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock valued at $1,000,536,000 after purchasing an additional 26,300 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. UBS Group lifted their price target on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird upped their price objective on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Barclays lifted their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Price Performance

Shares of NYSE SPGI opened at $522.51 on Friday. The company has a 50 day moving average of $509.21 and a 200 day moving average of $485.36. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a twelve month low of $407.69 and a twelve month high of $533.29. The firm has a market cap of $162.13 billion, a P/E ratio of 46.12, a PEG ratio of 2.67 and a beta of 1.18.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.43 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts expect that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is presently 32.13%.

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.