OVERSEA CHINESE BANKING Corp Ltd Sells 7,729 Shares of S&P Global Inc. $SPGI

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 44.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,690 shares of the business services provider’s stock after selling 7,729 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in S&P Global were worth $5,106,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cheviot Value Management LLC acquired a new position in shares of S&P Global in the first quarter valued at $26,000. Costello Asset Management INC acquired a new position in shares of S&P Global in the first quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of S&P Global in the second quarter valued at $26,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of S&P Global in the first quarter valued at $28,000. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Trading Up 1.3%

Shares of SPGI opened at $489.02 on Monday. The stock has a fifty day moving average price of $514.03 and a two-hundred day moving average price of $514.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a market cap of $149.30 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 2.59 and a beta of 1.19.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) 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 during the quarter. Analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPGI. Evercore ISI upped their target price on S&P Global from $613.00 to $619.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Mizuho raised their target price on S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Wells Fargo & Company raised their target price on S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Seaport Res Ptn upgraded S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets cut their target price on S&P Global from $621.00 to $558.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $614.23.

About S&P Global

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.