Sumitomo Mitsui Trust Group Inc. Sells 9,013 Shares of S&P Global Inc. $SPGI

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 664,782 shares of the business services provider’s stock after selling 9,013 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in S&P Global were worth $262,237,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SPGI. Dorsey Asset Management LLC bought a new stake in shares of S&P Global during the first quarter valued at approximately $94,716,000. NewEdge Advisors LLC raised its stake in shares of S&P Global by 17.9% in the first quarter. NewEdge Advisors LLC now owns 20,005 shares of the business services provider’s stock valued at $8,509,000 after purchasing an additional 3,038 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 valued at $233,228,000 after purchasing an additional 65,529 shares in the last quarter. Quantitative Investment Management LLC raised its stake in shares of S&P Global by 127.4% in the second quarter. Quantitative Investment Management LLC now owns 9,033 shares of the business services provider’s stock valued at $3,678,000 after purchasing an additional 5,061 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in S&P Global in the second quarter worth $18,361,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of recent research reports. Bank of America decreased their price target on shares of S&P Global from $575.00 to $550.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Barclays dropped their price objective on shares of S&P Global from $555.00 to $553.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Stifel Nicolaus raised their price objective on shares of S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Morgan Stanley lifted their target price on shares of S&P Global from $477.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Evercore reissued an “outperform” rating on shares of S&P Global in a research note on Wednesday. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $522.24.

S&P Global Trading Up 1.3%

Shares of S&P Global stock opened at $466.46 on Friday. The stock has a market capitalization of $135.23 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The company has a quick ratio of 0.95, a current ratio of 0.74 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $421.62 and a 200 day simple moving average of $431.64. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $552.25.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, October 27th. The business services provider reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.15. The firm had revenue of $3.68 billion during 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 firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $4.73 EPS. Research analysts expect that S&P Global Inc. will post 17.89 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be paid a $0.97 dividend. The ex-dividend date 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 payout ratio is 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.