Atlantic Union Bankshares Corp Has $4.34 Million Stake in S&P Global Inc. (NYSE:SPGI)

Atlantic Union Bankshares Corp decreased its position in shares of S&P Global Inc. (NYSE:SPGI) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,392 shares of the business services provider’s stock after selling 524 shares during the period. Atlantic Union Bankshares Corp’s holdings in S&P Global were worth $4,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SPGI. International Assets Investment Management LLC increased its holdings in shares of S&P Global by 174,815.4% in the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of S&P Global in the third quarter valued at approximately $224,976,000. FMR LLC grew its holdings in S&P Global by 6.6% during the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after acquiring an additional 369,598 shares during the period. Assenagon Asset Management S.A. raised its position in shares of S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after acquiring an additional 360,909 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPGI. Oppenheimer lifted their price objective on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Barclays lifted their price objective on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. UBS Group lifted their price objective 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. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company lifted 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Performance

Shares of S&P Global stock opened at $522.86 on Friday. The firm has a market cap of $162.24 billion, a price-to-earnings ratio of 46.15, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The stock’s 50-day moving average is $509.24 and its 200-day moving average is $484.31. S&P Global Inc. has a one year low of $407.69 and a one year high of $533.29. 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 issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The company 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%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 earnings per share. Equities analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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

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.