Cigna Investments Inc. New Raises Stock Position in S&P Global Inc (NYSE:SPGI)

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Cigna Investments Inc. New boosted its holdings in S&P Global Inc (NYSE:SPGI) by 83.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,960 shares of the business services provider’s stock after buying an additional 5,442 shares during the period. Cigna Investments Inc. New’s holdings in S&P Global were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPGI. Jupiter Asset Management Ltd. grew its position in shares of S&P Global by 16.0% during the fourth quarter. Jupiter Asset Management Ltd. now owns 47,569 shares of the business services provider’s stock worth $12,983,000 after acquiring an additional 6,559 shares during the last quarter. Korea Investment CORP increased its holdings in S&P Global by 1.7% in the fourth quarter. Korea Investment CORP now owns 183,577 shares of the business services provider’s stock worth $50,126,000 after buying an additional 3,000 shares during the last quarter. Stifel Financial Corp increased its holdings in S&P Global by 69.7% in the fourth quarter. Stifel Financial Corp now owns 253,543 shares of the business services provider’s stock worth $69,273,000 after buying an additional 104,122 shares during the last quarter. Baird Financial Group Inc. grew its holdings in S&P Global by 8.2% during the fourth quarter. Baird Financial Group Inc. now owns 195,309 shares of the business services provider’s stock valued at $53,331,000 after purchasing an additional 14,794 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in S&P Global by 10.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,486 shares of the business services provider’s stock valued at $6,140,000 after purchasing an additional 2,169 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Several brokerages recently commented on SPGI. Cantor Fitzgerald raised their target price on S&P Global from $299.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Zacks Investment Research upgraded S&P Global from a “hold” rating to a “buy” rating and set a $262.00 target price for the company in a research note on Friday, March 27th. BMO Capital Markets raised their target price on S&P Global from $278.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wells Fargo & Co raised their target price on S&P Global from $250.00 to $260.00 in a research note on Thursday, April 30th. Finally, Stifel Nicolaus lowered their price objective on S&P Global from $322.00 to $280.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $293.62.

Shares of NYSE:SPGI traded up $1.10 during trading on Friday, hitting $311.86. 621,180 shares of the company’s stock traded hands, compared to its average volume of 1,322,260. S&P Global Inc has a 52 week low of $186.05 and a 52 week high of $317.29. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 8.52. The company has a market cap of $74.87 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04. The company has a 50-day moving average price of $282.87 and a 200-day moving average price of $274.67.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $2.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.37. S&P Global had a return on equity of 758.90% and a net margin of 34.02%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business posted $2.11 EPS. S&P Global’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that S&P Global Inc will post 10.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 27th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, May 26th. S&P Global’s payout ratio is 28.12%.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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