The Manufacturers Life Insurance Company Sells 5,667 Shares of S&P Global Inc. (NYSE:SPGI)

The Manufacturers Life Insurance Company lowered its stake in S&P Global Inc. (NYSE:SPGI) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 474,454 shares of the business services provider’s stock after selling 5,667 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in S&P Global were worth $245,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global in the third quarter worth about $27,000. First Personal Financial Services purchased a new stake in shares of S&P Global during the 3rd quarter worth approximately $29,000. Sachetta LLC raised its holdings in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of S&P Global during the 3rd quarter valued at approximately $31,000. Finally, HWG Holdings LP purchased a new position in shares of S&P Global in the second quarter valued at $27,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 1.1 %

Shares of NYSE SPGI opened at $520.34 on Tuesday. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. The business has a fifty day moving average price of $509.21 and a 200 day moving average price of $483.13. The stock has a market capitalization of $161.46 billion, a P/E ratio of 45.93, a price-to-earnings-growth ratio of 2.63 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.70%. S&P Global’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SPGI shares. Robert W. Baird upped their price target on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. UBS Group upped their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price objective on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI initiated coverage on S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Oppenheimer increased their price objective on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $571.31.

About S&P Global

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.