1,652,585 Shares in S&P Global Inc. $SPGI Purchased by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. acquired a new position in shares of S&P Global Inc. (NYSE:SPGI) during the 1st quarter, Holdings Channel reports. The fund acquired 1,652,585 shares of the business services provider’s stock, valued at approximately $702,911,000. S&P Global comprises about 5.6% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Joseph Group Capital Management bought a new position in shares of S&P Global during the 4th quarter valued at approximately $29,000. North Star Investment Management Corp. raised its holdings in S&P Global by 134.6% during the 4th quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider’s stock valued at $32,000 after buying an additional 35 shares during the period. Palladiem LLC bought a new stake in S&P Global in the fourth quarter worth $36,000. Palisade Asset Management LLC purchased a new position in S&P Global during the third quarter worth $36,000. Finally, Swiss RE Ltd. purchased a new stake in shares of S&P Global in the fourth quarter valued at $39,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Catherine R. Clay purchased 2,500 shares of S&P Global stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the transaction, the chief executive officer owned 2,500 shares in the company, valued at approximately $1,078,475. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 1,152 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $434.03 per share, with a total value of $500,002.56. Following the completion of the purchase, the director directly owned 1,152 shares in the company, valued at $500,002.56. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 5,974 shares of company stock worth $2,576,775. 0.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of S&P Global from $565.00 to $555.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Bank of America dropped their price objective on S&P Global from $575.00 to $550.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Royal Bank Of Canada reduced their price objective on S&P Global from $560.00 to $510.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Daiwa Securities Group decreased their target price on S&P Global from $490.00 to $485.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of S&P Global in a report on Monday, July 6th. Eighteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $533.59.

S&P Global Price Performance

NYSE SPGI opened at $439.25 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50 day moving average price is $423.71 and its 200-day moving average price is $440.76. S&P Global Inc. has a 52-week low of $381.61 and a 52-week high of $579.05. The company has a market cap of $130.02 billion, a PE ratio of 27.80, a P/E/G ratio of 2.16 and a beta of 1.08.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $4.97 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.15. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. S&P Global’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.37 earnings per share. Sell-side analysts forecast that S&P Global Inc. will post 18.37 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.9%. S&P Global’s dividend payout ratio (DPR) is currently 24.56%.

About S&P Global

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.