State of Michigan Retirement System Reduces Holdings in S&P Global Inc. (NYSE:SPGI)

State of Michigan Retirement System cut its position in S&P Global Inc. (NYSE:SPGI) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 86,153 shares of the business services provider’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in S&P Global were worth $42,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headinvest LLC raised its position in shares of S&P Global by 2.0% during the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock worth $515,000 after buying an additional 20 shares in the last quarter. EWA LLC increased its stake in shares of S&P Global by 4.2% during the third quarter. EWA LLC now owns 498 shares of the business services provider’s stock valued at $254,000 after acquiring an additional 20 shares during the period. Continuum Advisory LLC raised its holdings in S&P Global by 1.3% during the third quarter. Continuum Advisory LLC now owns 1,544 shares of the business services provider’s stock worth $788,000 after purchasing an additional 20 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in S&P Global by 2.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,034 shares of the business services provider’s stock worth $515,000 after purchasing an additional 20 shares during the period. Finally, Archer Investment Corp lifted its position in S&P Global by 21.0% in the third quarter. Archer Investment Corp now owns 127 shares of the business services provider’s stock worth $66,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.9 %

Shares of NYSE:SPGI opened at $528.98 on Tuesday. The firm has a 50 day simple moving average of $514.36 and a 200 day simple moving average of $511.20. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $162.82 billion, a PE ratio of 42.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same period last year, the company earned $3.13 earnings per share. As a group, research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a yield of 0.73%. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on S&P Global from $617.00 to $633.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Citigroup assumed coverage on shares of S&P Global in a report on Friday, December 20th. They issued a “buy” rating and a $600.00 price target for the company. Morgan Stanley raised their price objective on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their target price on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, UBS Group raised their target price on shares of S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.23.

S&P Global Company 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.