Bank of Nova Scotia Increases Position in S&P Global Inc. $SPGI

Bank of Nova Scotia raised its stake in shares of S&P Global Inc. (NYSE:SPGI) by 102.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,387 shares of the business services provider’s stock after acquiring an additional 83,745 shares during the period. Bank of Nova Scotia owned approximately 0.05% of S&P Global worth $87,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SPGI. Norges Bank purchased a new stake in shares of S&P Global in the second quarter valued at approximately $2,188,945,000. Valeo Financial Advisors LLC lifted its holdings in S&P Global by 70,734.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock valued at $1,670,671,000 after acquiring an additional 3,163,938 shares during the period. Nuveen LLC acquired a new stake in S&P Global in the first quarter valued at $1,103,665,000. Price T Rowe Associates Inc. MD boosted its position in shares of S&P Global by 26.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock worth $1,497,493,000 after purchasing an additional 614,809 shares in the last quarter. Finally, ABN AMRO Bank N.V. acquired a new position in shares of S&P Global during the 2nd quarter worth $310,348,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPGI has been the topic of several recent analyst reports. Seaport Res Ptn upgraded shares of S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Mizuho boosted their price target on S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. William Blair restated an “outperform” rating on shares of S&P Global in a report on Monday, November 17th. JPMorgan Chase & Co. decreased their target price on S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Morgan Stanley raised their price target on S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat.com, S&P Global has a consensus rating of “Buy” and an average price target of $613.00.

S&P Global Stock Up 0.3%

SPGI opened at $498.37 on Monday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $579.05. The business has a 50-day moving average of $489.02 and a two-hundred day moving average of $515.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $150.91 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a net margin of 28.10% and a return on equity of 15.90%. On average, research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $0.96 per share. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. S&P Global’s dividend payout ratio (DPR) is currently 27.93%.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.