Nordea Investment Management AB Increases Position in S&P Global Inc.

Nordea Investment Management AB has significantly increased its investment in S&P Global Inc. (NYSE:SPGI) by 52.0% in the fourth quarter, based on the latest filing with the Securities and Exchange Commission (SEC). After the purchase of 225,370 additional shares, the institutional investor now owns a total of 658,766 shares, valued at approximately $328.63 million, representing about 0.21% of S&P Global.

Other institutional investors have also adjusted their positions in S&P Global. Wellington Management Group LLP raised its stake by 3.4% during the third quarter, now owning 8,868,375 shares worth $4.58 billion following an increase of 292,436 shares. Similarly, Geode Capital Management LLC raised its holdings by 1.8% to own 6,473,774 shares valued at $3.33 billion after purchasing 113,146 additional shares. FMR LLC also increased its position by 6.6%, bringing its total to 5,965,369 shares worth approximately $3.08 billion after acquiring 369,598 shares in the last quarter.

Legal & General Group Plc grew its stake by 1.0% in the second quarter, owning 2,826,597 shares now valued at $1.26 billion, while UBS Asset Management Americas LLC increased its holdings by 1.1% during the third quarter, now controlling 2,713,617 shares worth about $1.40 billion. Collectively, institutional investors own 87.17% of S&P Global's stock.

Stock Performance

On Monday, S&P Global Inc. traded at $499.57. Over the past year, the stock has reached a low of $407.69 and a high of $533.29. The company's current ratio is 0.94, quick ratio is also 0.94, and its debt-to-equity ratio stands at 0.33. With a market capitalization of $155.02 billion, the stock enjoys a price-to-earnings ratio of 44.09, a PEG ratio of 2.53, and a beta of 1.20. S&P Global also has a fifty-day simple moving average of $503.92 and a two-hundred-day simple moving average of $498.19.

Earnings Results

S&P Global recently shared its earnings results on October 24th, reporting an earnings per share (EPS) of $3.89 for the quarter, surpassing the consensus estimate of $3.64 by $0.25. The company achieved a return on equity of 13.72% and a net margin of 25.80%. Revenue for the quarter was $3.58 billion, beating expectations of $3.43 billion and showcasing a 15.9% increase in revenue compared to the same quarter last year. Analysts project an EPS of 15.24 for the current fiscal year.

Analyst Ratings Updates

Recently, various analysts have updated their ratings on S&P Global shares. Oppenheimer lowered its price target from $590.00 to $580.00 while maintaining an “outperform” rating. Meanwhile, Barclays increased its price target from $550.00 to $610.00, giving the company an “overweight” rating in its September report. Morgan Stanley also raised its price objective from $570.00 to $595.00 with an “overweight” rating. Citigroup began covering S&P Global with a “buy” rating and a target price set at $600.00. Additionally, Robert W. Baird raised its price target from $536.00 to $575.00, acknowledging the company's “outperform” status. Overall, two analysts rated the stock as a hold and thirteen assigned it a buy rating. According to MarketBeat, S&P Global currently holds a consensus rating of “Moderate Buy” with an average price target of $574.43.

Company Overview

S&P Global, Inc is dedicated to providing transparent and independent ratings, benchmarks, analytics, and data to capital and commodity markets globally. The company operates through several segments including Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

investment, stocks, S&P Global