Edgewood Management LLC Has $2.03 Billion Position in S&P Global Inc. (NYSE:SPGI)

Edgewood Management LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,922,179 shares of the business services provider’s stock after selling 62,065 shares during the quarter. S&P Global comprises 5.5% of Edgewood Management LLC’s portfolio, making the stock its 6th biggest holding. Edgewood Management LLC’s holdings in S&P Global were worth $2,026,276,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after purchasing an additional 2,962 shares during the last quarter. Quadrature Capital Ltd bought a new position in S&P Global during the first quarter valued at approximately $2,236,000. GDS Wealth Management grew its holdings in S&P Global by 7.0% during the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after buying an additional 1,801 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in S&P Global by 4.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 30,014 shares of the business services provider’s stock worth $13,386,000 after acquiring an additional 1,405 shares during the last quarter. Finally, BDF Gestion purchased a new stake in shares of S&P Global during the 2nd quarter worth approximately $4,419,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

Shares of SPGI stock opened at $512.26 on Friday. The company has a market capitalization of $158.96 billion, a P/E ratio of 45.21, a P/E/G ratio of 2.57 and a beta of 1.18. The company’s 50-day simple moving average is $509.45 and its two-hundred day simple moving average is $481.15. 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 data on Thursday, October 24th. The business services provider reported $3.89 earnings per share 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 the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. As a group, equities analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SPGI shares. Wells Fargo & Company raised their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus upped their target price on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, UBS Group upped their price objective on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Company Profile

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.