Cypress Capital Group Sells 132 Shares of S&P Global Inc. (NYSE:SPGI)

Cypress Capital Group lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,586 shares of the business services provider’s stock after selling 132 shares during the quarter. Cypress Capital Group’s holdings in S&P Global were worth $2,886,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SPGI. Legal & General Group Plc raised its stake in shares of S&P Global by 1.0% during the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after acquiring an additional 29,227 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 worth $1,115,697,000 after buying an additional 298,645 shares during the period. Clearbridge Investments LLC increased its stake in shares of S&P Global by 1.4% in the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after buying an additional 20,624 shares during the period. Mackenzie Financial Corp raised its position in shares of S&P Global by 4.3% during the second quarter. Mackenzie Financial Corp now owns 1,396,304 shares of the business services provider’s stock worth $622,752,000 after acquiring an additional 57,159 shares during the last quarter. Finally, Ninety One UK Ltd raised its position in shares of S&P Global by 0.7% during the second quarter. Ninety One UK Ltd now owns 1,362,820 shares of the business services provider’s stock worth $607,818,000 after acquiring an additional 9,053 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Stock Performance

NYSE:SPGI opened at $503.12 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day moving average price of $509.61 and a 200-day moving average price of $480.93. The firm has a market cap of $156.12 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29.

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

S&P Global Announces Dividend

The firm 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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is 32.13%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BMO Capital Markets dropped their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Oppenheimer lifted their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Barclays upped their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Stifel Nicolaus lifted their price target on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Morgan Stanley lifted their price objective on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.