State of New Jersey Common Pension Fund D Reduces Stock Position in S&P Global Inc. (NYSE:SPGI)

State of New Jersey Common Pension Fund D lowered its position in shares of S&P Global Inc. (NYSE:SPGI) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,477 shares of the business services provider’s stock after selling 1,307 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of S&P Global worth $81,706,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPGI. Abbrea Capital LLC lifted its holdings in shares of S&P Global by 14.5% in the fourth quarter. Abbrea Capital LLC now owns 1,027 shares of the business services provider’s stock worth $452,000 after buying an additional 130 shares in the last quarter. Syon Capital LLC lifted its position in shares of S&P Global by 41.5% during the 4th quarter. Syon Capital LLC now owns 2,240 shares of the business services provider’s stock valued at $987,000 after buying an additional 657 shares in the last quarter. Pittenger & Anderson Inc. lifted its holdings in S&P Global by 1.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 48,854 shares of the business services provider’s stock valued at $21,521,000 after purchasing an additional 631 shares in the last quarter. Channing Global Advisors LLC increased its stake in shares of S&P Global by 1.4% in the 4th quarter. Channing Global Advisors LLC now owns 2,371 shares of the business services provider’s stock worth $1,044,000 after acquiring an additional 32 shares during the last quarter. Finally, Bailard Inc. increased its position in shares of S&P Global by 2.6% during the 4th quarter. Bailard Inc. now owns 29,732 shares of the business services provider’s stock worth $13,098,000 after purchasing an additional 759 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPGI shares. BMO Capital Markets boosted their price objective on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Oppenheimer raised their price objective on S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James lifted their price objective on S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of S&P Global in a research report on Friday, February 9th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $462.60.

S&P Global Stock Performance

SPGI traded up $0.23 during trading on Friday, hitting $415.73. The company’s stock had a trading volume of 1,611,144 shares, compared to its average volume of 1,361,431. The firm has a market cap of $133.14 billion, a PE ratio of 50.64, a P/E/G ratio of 2.32 and a beta of 1.15. The business’s 50 day simple moving average is $423.95 and its 200-day simple moving average is $417.07. S&P Global Inc. has a one year low of $340.49 and a one year high of $461.16. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.39 billion. As a group, sell-side analysts predict that S&P Global Inc. will post 14.11 EPS for the current fiscal year.

Insider Buying and Selling at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $424.74, for a total value of $2,548,440.00. Following the transaction, the chief executive officer now directly owns 162,530 shares in the company, valued at approximately $69,032,992.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

S&P Global 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.