Archer Investment Corp Has $66,000 Stock Position in S&P Global Inc. (NYSE:SPGI)

Archer Investment Corp grew its position in S&P Global Inc. (NYSE:SPGI) by 21.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 127 shares of the business services provider’s stock after purchasing an additional 22 shares during the period. Archer Investment Corp’s holdings in S&P Global were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB purchased a new position in S&P Global during the 1st quarter worth approximately $351,774,000. International Assets Investment Management LLC lifted its stake in S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after acquiring an additional 466,757 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after acquiring an additional 360,909 shares during the period. Third Point LLC purchased a new position in S&P Global during the 1st quarter valued at about $142,526,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after purchasing an additional 298,645 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPGI. JPMorgan Chase & Co. decreased their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Evercore ISI began coverage on shares of S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target on the stock. Royal Bank of Canada upped their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Oppenheimer upped their target price on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Down 1.4 %

Shares of S&P Global stock opened at $503.29 on Friday. S&P Global Inc. has a 12-month low of $401.79 and a 12-month high of $533.29. The stock has a market capitalization of $156.17 billion, a P/E ratio of 44.42, a PEG ratio of 2.61 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $510.47 and a two-hundred day moving average price of $478.74.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.43 billion. During the same period last year, the business posted $3.21 EPS. S&P Global’s revenue was up 15.9% compared to the same quarter last year. Equities analysts expect that S&P Global Inc. will post 15.25 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 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 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.