Cornerstone Advisors LLC Has $13.50 Million Stake in S&P Global Inc. $SPGI

Cornerstone Advisors LLC raised its holdings in S&P Global Inc. (NYSE:SPGI) by 53.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,600 shares of the business services provider’s stock after buying an additional 8,900 shares during the period. Cornerstone Advisors LLC’s holdings in S&P Global were worth $13,499,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC boosted its position in 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 valued at $1,670,671,000 after purchasing an additional 3,163,938 shares during the last quarter. Nuveen LLC acquired a new position in shares of S&P Global during the 1st quarter worth approximately $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of S&P Global by 70.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider’s stock worth $826,819,000 after purchasing an additional 670,392 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of S&P Global by 26.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock valued at $1,497,493,000 after buying an additional 614,809 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of S&P Global by 37.9% in the 1st quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider’s stock valued at $389,283,000 after buying an additional 210,373 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup boosted their target price on shares of S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Barclays lifted their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Evercore ISI raised their target price on shares of S&P Global from $619.00 to $629.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus lowered their price target on S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $613.00.

S&P Global Stock Down 1.8%

S&P Global stock opened at $493.97 on Friday. The company’s 50-day moving average price is $497.60 and its two-hundred day moving average price is $517.08. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $149.58 billion, a P/E ratio of 38.00, a P/E/G ratio of 2.50 and a beta of 1.17. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05.

S&P Global (NYSE:SPGI) last posted its earnings results on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. As a group, analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis 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%.

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.