Biltmore Family Office LLC Buys 45 Shares of S&P Global Inc. (NYSE:SPGI)

Biltmore Family Office LLC boosted its stake in S&P Global Inc. (NYSE:SPGI) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737 shares of the business services provider’s stock after acquiring an additional 45 shares during the period. Biltmore Family Office LLC’s holdings in S&P Global were worth $381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in S&P Global by 6.9% in the third quarter. Raymond James Trust N.A. now owns 10,230 shares of the business services provider’s stock valued at $5,285,000 after buying an additional 659 shares during the period. AlphaCore Capital LLC bought a new position in shares of S&P Global in the 3rd quarter worth about $206,000. Eagle Asset Management Inc. lifted its stake in shares of S&P Global by 53.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,536 shares of the business services provider’s stock valued at $2,784,000 after purchasing an additional 1,936 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of S&P Global by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock valued at $1,000,536,000 after purchasing an additional 26,300 shares in the last quarter. Finally, Smithfield Trust Co grew its stake in S&P Global by 18.7% during the third quarter. Smithfield Trust Co now owns 1,479 shares of the business services provider’s stock worth $766,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SPGI. Barclays boosted their price target 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. JPMorgan Chase & Co. dropped their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley lifted their price target on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price objective 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. Finally, Stifel Nicolaus boosted their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Trading Up 1.8 %

NYSE SPGI opened at $512.26 on Friday. 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 business has a fifty day simple moving average of $509.45 and a 200 day simple moving average of $481.15. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The firm has a market capitalization of $158.96 billion, a P/E ratio of 45.21, a PEG ratio of 2.57 and a beta of 1.18.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 24th. The business services provider reported $3.89 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 company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts predict that S&P Global Inc. will post 15.24 EPS for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s payout ratio is presently 32.13%.

About S&P Global

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.