Invesco Ltd. Sells 337,891 Shares of S&P Global Inc. $SPGI

Invesco Ltd. cut its position in S&P Global Inc. (NYSE:SPGI) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454,612 shares of the business services provider’s stock after selling 337,891 shares during the quarter. Invesco Ltd. owned about 0.80% of S&P Global worth $1,294,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in S&P Global by 1.1% during the second quarter. Vanguard Group Inc. now owns 30,094,919 shares of the business services provider’s stock valued at $15,868,750,000 after buying an additional 315,916 shares during the period. Geode Capital Management LLC raised its holdings in shares of S&P Global by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 6,793,282 shares of the business services provider’s stock valued at $3,565,889,000 after acquiring an additional 42,724 shares in the last quarter. Norges Bank purchased a new stake in shares of S&P Global in the 2nd quarter valued at about $2,188,945,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of S&P Global by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider’s stock valued at $1,618,934,000 after acquiring an additional 114,843 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of S&P Global by 70,734.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock worth $1,670,671,000 after purchasing an additional 3,163,938 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Mizuho upped their target price on shares of S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Morgan Stanley raised their price target on S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. cut their price objective on S&P Global from $635.00 to $615.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $613.00.

S&P Global Stock Down 0.8%

SPGI opened at $491.18 on Wednesday. S&P Global Inc. has a 12 month low of $427.14 and a 12 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 business’s 50-day moving average price is $488.37 and its 200-day moving average price is $515.72. The company has a market cap of $148.73 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.50 and a beta of 1.17.

S&P Global (NYSE:SPGI) last issued its earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The company 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%. On average, equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global’s payout ratio is presently 27.93%.

S&P Global 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.