Legacy Wealth Management LLC MS Lowers Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Legacy Wealth Management LLC MS reduced its position in S&P Global Inc. (NYSE:SPGI) by 17.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 500 shares of the business services provider’s stock after selling 105 shares during the period. Legacy Wealth Management LLC MS’s holdings in S&P Global were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPGI. Blue Trust Inc. boosted its holdings in shares of S&P Global by 140.7% in the 2nd quarter. Blue Trust Inc. now owns 3,800 shares of the business services provider’s stock valued at $1,617,000 after purchasing an additional 2,221 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of S&P Global by 1,538.5% in the 2nd quarter. Gradient Investments LLC now owns 213 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 200 shares during the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in shares of S&P Global in the 2nd quarter valued at $7,029,000. Sumitomo Life Insurance Co. lifted its holdings in shares of S&P Global by 7.2% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 20,231 shares of the business services provider’s stock valued at $8,514,000 after acquiring an additional 1,362 shares in the last quarter. Finally, TCW Group Inc. lifted its holdings in shares of S&P Global by 2.5% during the 2nd quarter. TCW Group Inc. now owns 383,896 shares of the business services provider’s stock valued at $171,218,000 after acquiring an additional 9,226 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Barclays lifted 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. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, UBS Group lifted their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $573.23.

S&P Global Stock Down 1.1 %

Shares of S&P Global stock traded down $5.65 during trading on Friday, reaching $507.22. The company had a trading volume of 177,711 shares, compared to its average volume of 1,204,941. The company has a market cap of $157.39 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19. The firm’s fifty day moving average is $509.41 and its 200-day moving average is $489.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week 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, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 EPS. On average, analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th were paid a dividend of $0.91 per share. The ex-dividend date was Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.72%. S&P Global’s dividend payout ratio (DPR) is 32.13%.

S&P Global 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.