1776 Wealth LLC Trims Stock Position in S&P Global Inc. (NYSE:SPGI)

1776 Wealth LLC decreased its stake in S&P Global Inc. (NYSE:SPGI) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,082 shares of the business services provider’s stock after selling 58 shares during the quarter. 1776 Wealth LLC’s holdings in S&P Global were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Comgest Global Investors S.A.S. grew its position in shares of S&P Global by 5.8% in the third quarter. Comgest Global Investors S.A.S. now owns 532,572 shares of the business services provider’s stock valued at $275,137,000 after purchasing an additional 29,036 shares during the period. Maxwell Wealth Strategies Inc. grew its position in shares of S&P Global by 28.2% in the third quarter. Maxwell Wealth Strategies Inc. now owns 4,244 shares of the business services provider’s stock valued at $2,078,000 after purchasing an additional 934 shares during the period. Natixis Advisors LLC grew its position in shares of S&P Global by 10.2% in the third quarter. Natixis Advisors LLC now owns 220,914 shares of the business services provider’s stock valued at $114,129,000 after purchasing an additional 20,422 shares during the period. Mizuho Securities USA LLC grew its position in shares of S&P Global by 154.6% in the third quarter. Mizuho Securities USA LLC now owns 62,834 shares of the business services provider’s stock valued at $32,461,000 after purchasing an additional 38,152 shares during the period. Finally, KCM Investment Advisors LLC grew its position in shares of S&P Global by 1.4% in the third quarter. KCM Investment Advisors LLC now owns 13,091 shares of the business services provider’s stock valued at $6,763,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SPGI shares. Wells Fargo & Company boosted their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. BMO Capital Markets reduced their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target on the stock. Finally, Oppenheimer upped their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Stock Down 1.4 %

NYSE SPGI traded down $7.35 on Friday, hitting $503.29. 1,187,616 shares of the stock were exchanged, compared to its average volume of 1,209,144. 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 fifty-two week low of $401.79 and a fifty-two week high of $533.29. The company has a market cap of $156.17 billion, a PE ratio of 44.42, a PEG ratio of 2.61 and a beta of 1.18. The company has a 50-day moving average price of $510.47 and a 200-day moving average price of $478.74.

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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the business posted $3.21 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that S&P Global Inc. will post 15.25 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 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.