Bridges Investment Management Inc. Trims Stock Position in S&P Global Inc. $SPGI

Bridges Investment Management Inc. trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 199,084 shares of the business services provider’s stock after selling 2,181 shares during the quarter. S&P Global accounts for approximately 1.2% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Bridges Investment Management Inc. owned 0.07% of S&P Global worth $96,896,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPGI. MTM Investment Management LLC purchased a new stake in S&P Global in the 2nd quarter worth approximately $27,000. J.Safra Asset Management Corp acquired a new position in shares of S&P Global in the 3rd quarter valued at $29,000. Spurstone Advisory Services LLC purchased a new stake in S&P Global during the second quarter worth $34,000. Howard Hughes Medical Institute acquired a new stake in S&P Global during the second quarter valued at $36,000. Finally, Solstein Capital LLC purchased a new position in S&P Global in the second quarter valued at $38,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

SPGI opened at $527.23 on Monday. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The firm has a market capitalization of $159.65 billion, a PE ratio of 38.34, a PEG ratio of 2.24 and a beta of 1.20. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $518.60 and its 200 day moving average price is $517.32.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 30th. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.26 by $0.47. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.77 billion. S&P Global had a return on equity of 15.90% and a net margin of 28.10%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.89 earnings per share. As a group, sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from S&P Global’s previous quarterly dividend of $0.96. S&P Global’s payout ratio is presently 27.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPGI. Weiss Ratings restated a “buy (b-)” rating on shares of S&P Global in a research report on Monday, December 29th. Morgan Stanley increased their price target on S&P Global from $620.00 to $627.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Stifel Nicolaus cut their price objective on S&P Global from $625.00 to $599.00 and set a “buy” rating for the company in a research report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $640.00 price target on shares of S&P Global in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $615.64.

S&P Global Profile

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.