Prestige Wealth Management Group LLC Has $479,000 Holdings in S&P Global Inc. (NYSE:SPGI)

Prestige Wealth Management Group LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 47.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 928 shares of the business services provider’s stock after selling 827 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in S&P Global were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPGI. First National Corp MA ADV increased its holdings in S&P Global by 0.9% in the third quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after purchasing an additional 20 shares during the last quarter. Kathleen S. Wright Associates Inc. grew its position in shares of S&P Global by 25.0% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after buying an additional 20 shares during the period. Trust Point Inc. increased its stake in shares of S&P Global by 1.4% in the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 20 shares during the last quarter. Headinvest LLC raised its position in shares of S&P Global by 2.0% in the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after acquiring an additional 20 shares during the period. Finally, EWA LLC boosted its stake in S&P Global by 4.2% during the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI initiated coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Robert W. Baird raised their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays boosted their target price 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. Finally, UBS Group raised their price target on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Stock Performance

Shares of SPGI opened at $513.45 on Tuesday. The stock has a market capitalization of $159.32 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 2.64 and a beta of 1.19. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The firm has a fifty day simple moving average of $509.41 and a 200 day simple moving average of $489.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the company earned $3.21 EPS. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts forecast that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Dividend Announcement

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