Empowered Funds LLC Acquires 8,075 Shares of S&P Global Inc. $SPGI

Empowered Funds LLC increased its holdings in S&P Global Inc. (NYSE:SPGI) by 68.3% in the second quarter, HoldingsChannel.com reports. The fund owned 19,899 shares of the business services provider’s stock after acquiring an additional 8,075 shares during the period. Empowered Funds LLC’s holdings in S&P Global were worth $10,493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SPGI. Avantax Advisory Services Inc. lifted its stake in shares of S&P Global by 4.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 21,457 shares of the business services provider’s stock valued at $11,314,000 after purchasing an additional 850 shares during the period. Divergent Planning LLC bought a new position in S&P Global in the second quarter worth $303,000. Dynamic Advisor Solutions LLC lifted its position in S&P Global by 6.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 12,456 shares of the business services provider’s stock valued at $6,568,000 after buying an additional 733 shares during the period. SCS Capital Management LLC bought a new stake in shares of S&P Global during the 1st quarter valued at $240,000. Finally, Foster Victor Wealth Advisors LLC grew its position in shares of S&P Global by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,323 shares of the business services provider’s stock worth $16,562,000 after buying an additional 1,383 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 0.2%

Shares of NYSE SPGI opened at $489.70 on Wednesday. The firm’s 50 day moving average price is $495.29 and its 200-day moving average price is $517.00. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $148.28 billion, a PE ratio of 37.67, a P/E/G ratio of 2.50 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly 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 net margin of 27.30% and a return on equity of 15.11%. On average, equities research analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

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

Wall Street Analyst Weigh In

SPGI has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research report on Monday, September 15th. BMO Capital Markets set a $546.00 target price on shares of S&P Global in a research note on Friday. Morgan Stanley lifted their target price on shares of S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Wells Fargo & Company upped their price target on S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of S&P Global in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat, S&P Global currently has an average rating of “Buy” and an average target price of $613.00.

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.