Point72 Europe London LLP Takes $7.23 Million Position in S&P Global Inc. (NYSE:SPGI)

Point72 Europe London LLP purchased a new position in S&P Global Inc. (NYSE:SPGI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,000 shares of the business services provider’s stock, valued at approximately $7,233,000.

Several other hedge funds and other institutional investors have also modified their holdings of SPGI. FMR LLC lifted its holdings in shares of S&P Global by 6.6% during the 3rd 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 last quarter. Legal & General Group Plc raised its position in S&P Global by 1.0% during the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after acquiring an additional 29,227 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in S&P Global by 1.1% in the third 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 in the last quarter. Ameriprise Financial Inc. grew its position in S&P Global by 13.5% in the second 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. increased its stake in shares of S&P Global by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock worth $1,000,536,000 after purchasing an additional 26,300 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Price Performance

Shares of S&P Global stock opened at $522.57 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $162.15 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The firm has a fifty day moving average price of $509.21 and a two-hundred day moving average price of $484.96. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29.

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

S&P Global Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SPGI shares. Oppenheimer upped their price objective on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. UBS Group upped their price target on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI started coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $571.31.

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.