Addenda Capital Inc. Purchases New Position in S&P Global Inc. (NYSE:SPGI)

Addenda Capital Inc. purchased a new stake in shares of S&P Global Inc. (NYSE:SPGI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 13,049 shares of the business services provider’s stock, valued at approximately $6,499,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of S&P Global by 25.9% during the 2nd quarter. Pacer Advisors Inc. now owns 27,577 shares of the business services provider’s stock worth $12,299,000 after acquiring an additional 5,677 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of S&P Global by 2.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,692 shares of the business services provider’s stock valued at $6,553,000 after acquiring an additional 331 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of S&P Global by 0.8% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 21,501 shares of the business services provider’s stock valued at $9,589,000 after acquiring an additional 167 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of S&P Global by 7.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 54,314 shares of the business services provider’s stock valued at $24,224,000 after acquiring an additional 3,706 shares during the period. Finally, Evergreen Capital Management LLC increased its holdings in shares of S&P Global by 10.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,752 shares of the business services provider’s stock valued at $1,227,000 after acquiring an additional 254 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Down 0.7 %

Shares of NYSE SPGI opened at $501.70 on Tuesday. The stock has a market cap of $155.68 billion, a P/E ratio of 44.28, a PEG ratio of 2.30 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12-month low of $407.69 and a 12-month high of $533.29. The business’s fifty day simple moving average is $504.75 and its 200-day simple moving average is $501.49.

S&P Global (NYSE:SPGI) last posted its 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. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.21 earnings per share. As a group, equities analysts predict that S&P Global Inc. will post 15.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPGI. Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. UBS Group boosted their target price on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus lifted their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Morgan Stanley lifted their price target on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lowered their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $583.62.

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.