Huntington National Bank Decreases Position in S&P Global Inc. (NYSE:SPGI)

Huntington National Bank lowered its position in S&P Global Inc. (NYSE:SPGI) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,934 shares of the business services provider’s stock after selling 251 shares during the quarter. Huntington National Bank’s holdings in S&P Global were worth $14,431,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SPGI. HWG Holdings LP purchased a new stake in S&P Global in the 2nd quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global in the third quarter valued at $27,000. Sachetta LLC lifted its position 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 valued at $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 valued at $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in S&P Global during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

SPGI stock opened at $510.64 on Friday. The company has a market cap of $158.45 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $510.74 and a two-hundred day moving average price of $477.90. S&P Global Inc. has a 12-month low of $401.58 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last issued its 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 during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 EPS. As a group, research analysts predict that S&P Global Inc. will post 15.25 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is presently 32.13%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPGI. Barclays upped their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Robert W. Baird upped their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Evercore ISI began coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus target price 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.