State of Tennessee Department of Treasury Has $88.95 Million Stake in S&P Global Inc. (NYSE:SPGI)

State of Tennessee Department of Treasury trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 178,611 shares of the business services provider’s stock after selling 7,318 shares during the quarter. State of Tennessee Department of Treasury’s holdings in S&P Global were worth $88,954,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of S&P Global during the fourth quarter worth approximately $1,725,084,000. Raymond James Financial Inc. bought a new position in shares of S&P Global during the 4th quarter worth about $527,207,000. Proficio Capital Partners LLC lifted its stake in shares of S&P Global by 71,024.1% in the fourth quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock valued at $308,525,000 after buying an additional 618,620 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in S&P Global during the fourth quarter worth about $144,091,000. Finally, APG Asset Management N.V. raised its holdings in S&P Global by 1,384.4% in the 4th quarter. APG Asset Management N.V. now owns 290,500 shares of the business services provider’s stock valued at $139,718,000 after acquiring an additional 270,930 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPGI shares. Mizuho assumed coverage on shares of S&P Global in a report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price target on the stock. UBS Group increased their target price on S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. BMO Capital Markets boosted their price target on S&P Global from $576.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Oppenheimer cut their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Bank of America began coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $591.86.

S&P Global Trading Down 0.3 %

Shares of SPGI opened at $462.55 on Monday. The stock’s fifty day simple moving average is $499.33 and its 200-day simple moving average is $504.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $145.17 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. S&P Global Inc. has a 12-month low of $407.69 and a 12-month high of $545.39.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same period last year, the firm posted $3.13 EPS. As a group, research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were paid a $0.96 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio is 31.09%.

About S&P Global

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.