Olstein Capital Management L.P. Trims Stake in S&P Global Inc. (NYSE:SPGI)

Olstein Capital Management L.P. lowered its position in S&P Global Inc. (NYSE:SPGI) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the business services provider’s stock after selling 1,100 shares during the period. Olstein Capital Management L.P.’s holdings in S&P Global were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. HWG Holdings LP bought a new stake in shares of S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of S&P Global during the third quarter valued at $27,000. Sachetta LLC raised its holdings in shares of S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global in the second quarter valued at about $31,000. Finally, Voisard Asset Management Group Inc. lifted its stake in S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 1.0 %

S&P Global stock traded up $4.83 during midday trading on Thursday, reaching $494.82. The company’s stock had a trading volume of 85,908 shares, compared to its average volume of 1,206,813. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $153.54 billion, a P/E ratio of 43.21, a PEG ratio of 2.50 and a beta of 1.18. The stock’s 50-day simple moving average is $511.49 and its 200-day simple moving average is $474.78. S&P Global Inc. has a 52-week low of $382.12 and a 52-week high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. S&P Global’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $3.21 EPS. On average, sell-side analysts expect that S&P Global Inc. will post 15.16 EPS for the current year.

S&P Global Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group boosted their price target on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company 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 stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target 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.