Cumberland Partners Ltd Cuts Position in S&P Global Inc. (NYSE:SPGI)

Cumberland Partners Ltd lessened its position in S&P Global Inc. (NYSE:SPGI) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,160 shares of the business services provider’s stock after selling 819 shares during the quarter. S&P Global accounts for 3.5% of Cumberland Partners Ltd’s portfolio, making the stock its 6th largest position. Cumberland Partners Ltd’s holdings in S&P Global were worth $50,711,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Dupont Capital Management Corp raised its holdings in shares of S&P Global by 27.1% in the first quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock valued at $12,019,000 after acquiring an additional 6,025 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of S&P Global by 43.5% in the 1st quarter. Atomi Financial Group Inc. now owns 802 shares of the business services provider’s stock worth $341,000 after acquiring an additional 243 shares in the last quarter. Meeder Asset Management Inc. boosted its position in S&P Global by 15.3% during the first quarter. Meeder Asset Management Inc. now owns 580 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 77 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of S&P Global by 3.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,935 shares of the business services provider’s stock worth $3,801,000 after buying an additional 317 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of S&P Global by 2.2% during the 1st quarter. Bleakley Financial Group LLC now owns 6,521 shares of the business services provider’s stock worth $2,774,000 after acquiring an additional 138 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on S&P Global from $540.00 to $560.00 and gave the stock 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 note on Monday, September 23rd. Robert W. Baird increased their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped 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 research report on Friday, October 25th. Finally, Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target for the company. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Performance

Shares of SPGI traded down $2.40 during trading hours on Tuesday, hitting $504.86. The stock had a trading volume of 131,666 shares, compared to its average volume of 1,207,765. The firm has a market capitalization of $156.66 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 2.57 and a beta of 1.18. 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 firm has a 50-day moving average price of $510.95 and a 200 day moving average price of $477.05. S&P Global Inc. has a fifty-two week low of $392.69 and a fifty-two week high of $533.29.

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, topping analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that S&P Global Inc. will post 15.25 EPS 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. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. 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 (DPR) is presently 32.13%.

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.