Pitcairn Co. Sells 870 Shares of S&P Global Inc. (NYSE:SPGI)

Pitcairn Co. reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 7.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,411 shares of the business services provider’s stock after selling 870 shares during the quarter. Pitcairn Co.’s holdings in S&P Global were worth $5,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. HWG Holdings LP bought a new stake in S&P Global during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in S&P Global during the 3rd quarter valued at $27,000. Sachetta LLC raised its holdings in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares in the last quarter. First Personal Financial Services bought a new position in S&P Global in the 3rd quarter worth $29,000. Finally, Hobbs Group Advisors LLC bought a new position in S&P Global in the 2nd quarter worth $31,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several research reports. UBS Group upped their price objective on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus upped their price objective on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Up 0.6 %

NYSE:SPGI opened at $514.37 on Friday. The firm has a market cap of $159.61 billion, a P/E ratio of 45.40, a P/E/G ratio of 2.61 and a beta of 1.18. 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. The firm has a 50-day simple moving average of $509.35 and a two-hundred day simple moving average of $481.76.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during 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%. S&P Global’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $3.21 EPS. Analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. S&P Global’s dividend payout ratio is currently 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.