OFI Invest Asset Management Sells 6,921 Shares of S&P Global Inc. $SPGI

OFI Invest Asset Management reduced its position in S&P Global Inc. (NYSE:SPGI) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,691 shares of the business services provider’s stock after selling 6,921 shares during the quarter. OFI Invest Asset Management’s holdings in S&P Global were worth $14,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its stake in shares of S&P Global by 16.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 45,912 shares of the business services provider’s stock worth $24,294,000 after acquiring an additional 6,542 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in S&P Global in the 2nd quarter worth approximately $100,000. Tranquility Partners LLC boosted its position in S&P Global by 8.4% in the 2nd quarter. Tranquility Partners LLC now owns 2,563 shares of the business services provider’s stock worth $1,351,000 after purchasing an additional 199 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of S&P Global by 5.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,778 shares of the business services provider’s stock valued at $5,683,000 after buying an additional 535 shares in the last quarter. Finally, 1858 Wealth Management LLC lifted its position in shares of S&P Global by 24.8% during the 2nd quarter. 1858 Wealth Management LLC now owns 504 shares of the business services provider’s stock valued at $266,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.3%

S&P Global stock opened at $486.39 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The company has a market cap of $148.49 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.58 and a beta of 1.19. The stock’s 50 day moving average price is $529.93 and its 200 day moving average price is $514.29.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The firm had revenue of $1.87 billion for the quarter. On average, sell-side analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s payout ratio is presently 29.54%.

Wall Street Analysts Forecast Growth

SPGI has been the subject of a number of recent research reports. Oppenheimer raised their target price on S&P Global from $567.00 to $592.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley lifted their price objective on S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets raised their target price on S&P Global from $604.00 to $621.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. UBS Group raised their target price on S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of S&P Global in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat.com, S&P Global currently has a consensus rating of “Buy” and a consensus price target of $614.85.

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.