Zions Bancorporation N.A. Raises Position in S&P Global Inc. (NYSE:SPGI)

Zions Bancorporation N.A. boosted its holdings in S&P Global Inc. (NYSE:SPGI) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,716 shares of the business services provider’s stock after buying an additional 837 shares during the period. Zions Bancorporation N.A.’s holdings in S&P Global were worth $4,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HWG Holdings LP bought a new position in S&P Global in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in S&P Global in the 3rd quarter worth $27,000. Sachetta LLC increased its position in shares of S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the period. First Personal Financial Services purchased a new position in shares of S&P Global in the third quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of S&P Global in the second quarter valued at about $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Up 1.4 %

S&P Global stock opened at $510.29 on Thursday. 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 stock has a market capitalization of $158.34 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a 1-year low of $398.73 and a 1-year high of $533.29. The business has a fifty day moving average price of $510.74 and a 200-day moving average price of $477.90.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. Equities research analysts forecast that S&P Global Inc. will post 15.25 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.71%. S&P Global’s dividend payout ratio (DPR) is currently 32.13%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SPGI shares. Royal Bank of Canada increased their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI started coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective for the company. Wells Fargo & Company boosted 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. Robert W. Baird boosted their price target on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Oppenheimer boosted their price target on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.