Kornitzer Capital Management Inc. KS Sells 2,074 Shares of S&P Global Inc. (NYSE:SPGI)

Kornitzer Capital Management Inc. KS trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,533 shares of the business services provider’s stock after selling 2,074 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in S&P Global were worth $20,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors grew its holdings in S&P Global by 5.3% during the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after acquiring an additional 291,712 shares during the last quarter. Legal & General Group Plc grew its holdings in S&P Global by 1.0% during the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after purchasing an additional 29,227 shares during the period. Ameriprise Financial Inc. lifted its holdings in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares in the last quarter. Sustainable Growth Advisers LP lifted its stake in S&P Global by 2.1% in the first quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock valued at $935,885,000 after buying an additional 46,131 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of S&P Global by 1.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after purchasing an additional 20,624 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Trading Up 1.1 %

Shares of NYSE:SPGI traded up $5.18 during trading on Thursday, reaching $495.17. The stock had a trading volume of 83,294 shares, compared to its average volume of 1,206,800. S&P Global Inc. has a 52 week low of $382.12 and a 52 week high of $533.29. 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’s fifty day moving average is $511.49 and its 200 day moving average is $474.78. The stock has a market cap of $153.65 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 2.50 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results 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 return on equity of 13.72% and a net margin of 25.80%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the business posted $3.21 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that S&P Global Inc. will post 15.16 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 32.13%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPGI. Wells Fargo & Company boosted their price target on shares of 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 raised their target price on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America upped their target price on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. BMO Capital Markets reduced their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI initiated coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $571.31.

S&P Global 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.