Granite Investment Partners LLC Reduces Position in S&P Global Inc. $SPGI

Granite Investment Partners LLC decreased its position in S&P Global Inc. (NYSE:SPGI) by 3.0% in the second quarter, HoldingsChannel.com reports. The fund owned 46,242 shares of the business services provider’s stock after selling 1,442 shares during the period. S&P Global comprises approximately 1.2% of Granite Investment Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Granite Investment Partners LLC’s holdings in S&P Global were worth $24,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in SPGI. Costello Asset Management INC purchased a new position in shares of S&P Global in the first quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in S&P Global in the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in S&P Global during the 2nd quarter worth approximately $26,000. MTM Investment Management LLC acquired a new stake in S&P Global during the 2nd quarter valued at approximately $27,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of S&P Global by 103.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Down 0.8%

Shares of SPGI stock opened at $494.93 on Tuesday. The company’s 50-day moving average price is $488.47 and its 200-day moving average price is $515.94. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $149.87 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.50 and a beta of 1.17.

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. The firm had revenue of $1.87 billion during the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. As a group, equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The company 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 of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s dividend payout ratio is currently 27.93%.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent research reports. Mizuho raised their target price on shares of S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Wells Fargo & Company lifted their price objective on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Stifel Nicolaus decreased their price objective on S&P Global from $625.00 to $599.00 and set a “buy” rating for the company in a report on Friday, October 31st. Citigroup raised their target price on S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Seaport Res Ptn raised S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $613.00.

S&P Global Company Profile

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.