S&P Global Inc. (NYSE:SPGI) is Skye Global Management LP’s 8th Largest Position

Skye Global Management LP lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,500 shares of the business services provider’s stock after selling 93,500 shares during the quarter. S&P Global accounts for about 2.6% of Skye Global Management LP’s portfolio, making the stock its 8th largest position. Skye Global Management LP owned about 0.07% of S&P Global worth $105,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPGI. HWG Holdings LP purchased a new position in shares of S&P Global during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new position in shares of S&P Global in the third quarter worth about $27,000. Sachetta LLC boosted its position in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares during the period. First Personal Financial Services bought a new position in S&P Global in the third quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global during the 2nd quarter worth $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Up 0.2 %

S&P Global stock opened at $522.86 on Friday. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $533.29. 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 business’s 50-day moving average price is $509.24 and its 200 day moving average price is $484.31. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33.

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, topping analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. During the same period in the prior year, the firm posted $3.21 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is currently 32.13%.

Analysts Set New Price Targets

SPGI has been the topic of a number of recent research reports. Barclays increased their price target on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. BMO Capital Markets cut their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company boosted their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price target 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. Two research 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, S&P Global has a consensus rating of “Moderate Buy” and an average target price 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.