AIA Group Ltd Boosts Stock Position in S&P Global Inc. (NYSE:SPGI)

AIA Group Ltd raised its stake in S&P Global Inc. (NYSE:SPGI) by 32.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,213 shares of the business services provider’s stock after purchasing an additional 2,776 shares during the quarter. AIA Group Ltd’s holdings in S&P Global were worth $5,793,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPGI. Dupont Capital Management Corp lifted its position in S&P Global by 27.1% in the first quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock valued at $12,019,000 after purchasing an additional 6,025 shares during the period. Norden Group LLC acquired a new stake in shares of S&P Global in the 1st quarter valued at approximately $377,000. Duality Advisers LP purchased a new stake in shares of S&P Global in the first quarter valued at approximately $733,000. Envestnet Portfolio Solutions Inc. grew its holdings in S&P Global by 4.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,609 shares of the business services provider’s stock worth $12,172,000 after acquiring an additional 1,294 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in S&P Global by 51.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,950 shares of the business services provider’s stock worth $1,255,000 after acquiring an additional 997 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of SPGI opened at $497.10 on Friday. The company has a market capitalization of $154.25 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 2.50 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 1 year low of $382.12 and a 1 year high of $533.29. The company’s 50 day simple moving average is $511.49 and its 200 day simple moving average is $474.78.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 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 business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts predict that S&P Global Inc. will post 15.16 EPS for the current year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.73%. S&P Global’s dividend payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. UBS Group increased their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. 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 report on Monday, October 28th. Finally, Royal Bank of Canada lifted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.