Fosun International Ltd Makes New Investment in S&P Global Inc (NYSE:SPGI)

Fosun International Ltd acquired a new stake in shares of S&P Global Inc (NYSE:SPGI) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 840 shares of the business services provider’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of the company. Virtus ETF Advisers LLC purchased a new position in shares of S&P Global during the 4th quarter valued at approximately $32,000. Liberty Wealth Management LLC acquired a new position in shares of S&P Global in the first quarter worth about $29,000. FinTrust Capital Advisors LLC purchased a new stake in shares of S&P Global during the 4th quarter worth about $33,000. Ameritas Investment Company LLC grew its position in shares of S&P Global by 1,437.5% during the 4th quarter. Ameritas Investment Company LLC now owns 123 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Sandy Spring Bank increased its stake in shares of S&P Global by 101.6% in the 4th quarter. Sandy Spring Bank now owns 125 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 63 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

SPGI traded up $1.10 during trading on Friday, reaching $311.86. The company’s stock had a trading volume of 621,180 shares, compared to its average volume of 1,322,260. The company has a market cap of $74.87 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.09 and a beta of 1.04. The firm has a fifty day simple moving average of $282.87 and a two-hundred day simple moving average of $274.67. S&P Global Inc has a 1 year low of $186.05 and a 1 year high of $317.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 8.52.

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

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

SPGI has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on S&P Global from $299.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Oppenheimer began coverage on shares of S&P Global in a research note on Monday, May 18th. They issued an “outperform” rating and a $340.00 price target on the stock. Morgan Stanley upped their price objective on shares of S&P Global from $290.00 to $316.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Stifel Nicolaus decreased their price objective on shares of S&P Global from $322.00 to $280.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Finally, ValuEngine raised shares of S&P Global from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $293.62.

S&P Global Company Profile

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).

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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