AXS Investments LLC Lowers Holdings in S&P Global Inc. (NYSE:SPGI)

AXS Investments LLC decreased its stake in S&P Global Inc. (NYSE:SPGI) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,518 shares of the business services provider’s stock after selling 310 shares during the quarter. AXS Investments LLC’s holdings in S&P Global were worth $1,990,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in S&P Global by 13.2% during the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after purchasing an additional 881,215 shares in the last quarter. Morgan Stanley boosted its position in S&P Global by 8.2% during the third quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock worth $2,067,807,000 after purchasing an additional 428,737 shares in the last quarter. Norges Bank purchased a new position in S&P Global during the fourth quarter worth approximately $1,652,862,000. Northern Trust Corp lifted its position in shares of S&P Global by 1.6% in the third quarter. Northern Trust Corp now owns 3,275,029 shares of the business services provider’s stock valued at $1,196,728,000 after acquiring an additional 52,560 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of S&P Global by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock valued at $1,156,060,000 after acquiring an additional 279,633 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of several research reports. Oppenheimer raised their target price on S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. BMO Capital Markets raised their target price on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Barclays increased their price target on S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus increased their price target on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $467.89.

S&P Global Trading Down 1.4 %

SPGI stock traded down $6.02 during midday trading on Thursday, hitting $436.28. 1,127,552 shares of the company’s stock were exchanged, compared to its average volume of 1,339,569. The business has a 50-day simple moving average of $424.20 and a two-hundred day simple moving average of $426.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $136.51 billion, a PE ratio of 48.88, a P/E/G ratio of 2.44 and a beta of 1.14. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $461.16.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping the consensus estimate of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. On average, sell-side analysts predict that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $3.64 dividend on an annualized basis and a yield of 0.83%. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

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.