Bridgewater Associates LP Cuts Stock Position in S&P Global Inc. (NYSE:SPGI)

Bridgewater Associates LP trimmed its position in S&P Global Inc. (NYSE:SPGI) by 44.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,561 shares of the business services provider’s stock after selling 40,964 shares during the period. Bridgewater Associates LP’s holdings in S&P Global were worth $26,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp boosted its position in S&P Global by 27.1% during the first quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock worth $12,019,000 after purchasing an additional 6,025 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of S&P Global by 6.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,623 shares of the business services provider’s stock worth $1,967,000 after buying an additional 264 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in S&P Global by 17.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,711 shares of the business services provider’s stock valued at $1,579,000 after acquiring an additional 539 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of S&P Global by 14.0% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,179 shares of the business services provider’s stock worth $927,000 after purchasing an additional 268 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its position in shares of S&P Global by 1.0% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 5,375 shares of the business services provider’s stock valued at $2,287,000 after acquiring an additional 52 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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. Morgan Stanley raised their price objective on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Performance

NYSE:SPGI opened at $522.96 on Thursday. The firm’s fifty day simple moving average is $509.26 and its 200 day simple moving average is $484.04. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a twelve month low of $407.69 and a twelve month high of $533.29. The firm has a market capitalization of $162.27 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 2.66 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data 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 for 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. As a group, equities research analysts expect that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. 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 currently 32.13%.

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.