Connor Clark & Lunn Investment Management Ltd. Sells 23,302 Shares of S&P Global Inc. (NYSE:SPGI)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 96.7% in the third quarter, Holdings Channel reports. The firm owned 788 shares of the business services provider’s stock after selling 23,302 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in S&P Global were worth $407,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in shares of S&P Global in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in S&P Global in the third quarter valued at about $27,000. Sachetta LLC increased 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 worth $29,000 after acquiring an additional 30 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of S&P Global during the third quarter worth about $29,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of S&P Global during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $522.57 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12-month low of $407.69 and a 12-month high of $533.29. The company’s 50 day moving average price is $509.21 and its two-hundred day moving average price is $484.96. The firm has a market cap of $162.15 billion, a PE ratio of 46.12, a PEG ratio of 2.67 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.21 earnings per share. Equities research analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.70%. 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 issued reports on the stock. Morgan Stanley increased their price objective on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus increased their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company boosted 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. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Barclays boosted their target price on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

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.