Rakuten Investment Management Inc. Purchases 4,693 Shares of S&P Global Inc. $SPGI

Rakuten Investment Management Inc. grew its stake in shares of S&P Global Inc. (NYSE:SPGI) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,281 shares of the business services provider’s stock after purchasing an additional 4,693 shares during the period. Rakuten Investment Management Inc.’s holdings in S&P Global were worth $21,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorsey Asset Management LLC purchased a new stake in shares of S&P Global during the 1st quarter valued at $94,716,000. NewEdge Advisors LLC grew its stake in S&P Global by 17.9% in the 1st quarter. NewEdge Advisors LLC now owns 20,005 shares of the business services provider’s stock worth $8,509,000 after buying an additional 3,038 shares in the last quarter. Principal Financial Group Inc. boosted its stake in S&P Global by 12.9% in the second quarter. Principal Financial Group Inc. now owns 572,659 shares of the business services provider’s stock worth $233,228,000 after buying an additional 65,529 shares in the last quarter. Quantitative Investment Management LLC grew its position in S&P Global by 127.4% during the 2nd quarter. Quantitative Investment Management LLC now owns 9,033 shares of the business services provider’s stock worth $3,678,000 after acquiring an additional 5,061 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of S&P Global during the second quarter worth about $18,361,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of research analyst reports. Bank of America reduced their target price on S&P Global from $575.00 to $550.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of S&P Global from $525.00 to $545.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Zacks Research upgraded shares of S&P Global from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Royal Bank Of Canada restated an “outperform” rating and set a $510.00 price objective on shares of S&P Global in a research report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of S&P Global to a “hold” rating in a report on Saturday, September 5th. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $523.35.

S&P Global Trading Up 3.3%

SPGI opened at $481.40 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $424.06 and its two-hundred day moving average is $430.59. The company has a market capitalization of $139.56 billion, a P/E ratio of 28.71, a PEG ratio of 2.21 and a beta of 1.03. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $552.25.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.15. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.73 EPS. Analysts forecast that S&P Global Inc. will post 17.89 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s dividend payout ratio is presently 23.14%.

S&P Global Company Profile

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.