S&P Global Inc. (NYSE:SPGI) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC cut its stake in S&P Global Inc. (NYSE:SPGI) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,534 shares of the business services provider’s stock after selling 890 shares during the quarter. Sawgrass Asset Management LLC’s holdings in S&P Global were worth $10,608,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SPGI. HWG Holdings LP purchased a new position in S&P Global in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the 3rd quarter valued at $27,000. Sachetta LLC grew its holdings in shares of S&P Global by 103.4% during 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 during the period. First Personal Financial Services acquired a new stake in shares of S&P Global during the 3rd quarter worth about $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in S&P Global in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. UBS Group increased their price objective on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley boosted their target price on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price target on 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, Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Stock Down 1.4 %

SPGI stock opened at $503.29 on Friday. The company’s 50 day moving average price is $510.47 and its 200 day moving average price is $479.18. The firm has a market capitalization of $156.17 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a fifty-two week low of $401.79 and a fifty-two week high of $533.29. 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 (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.21 EPS. On average, equities research analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is 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.