Fragasso Financial Advisors Inc Decreases Holdings in S&P Global Inc. (NYSE:SPGI)

Fragasso Financial Advisors Inc lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,218 shares of the business services provider’s stock after selling 1,099 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in S&P Global were worth $5,587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPGI. HWG Holdings LP purchased a new position in S&P Global in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of S&P Global during the 3rd quarter valued at $27,000. First Personal Financial Services bought a new position in shares of S&P Global during the 3rd quarter worth $29,000. Capital Performance Advisors LLP bought a new position in shares of S&P Global during the 3rd quarter worth $31,000. Finally, Voisard Asset Management Group Inc. raised its stake in S&P Global by 77.1% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 27 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Price Performance

SPGI stock traded down $1.47 during mid-day trading on Monday, hitting $481.25. 468,945 shares of the stock were exchanged, compared to its average volume of 1,177,267. The business has a fifty day moving average price of $504.66 and a 200 day moving average price of $499.88. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $149.33 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.53 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its quarterly 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 analyst estimates of $3.43 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPGI. Oppenheimer reduced their target price on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered 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 report on Friday, October 25th. Citigroup began coverage on S&P Global in a report on Friday, December 20th. They issued a “buy” rating and a $600.00 price target for the company. Evercore ISI assumed coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Finally, Morgan Stanley raised their target price on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.62.

S&P Global Company Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.