Ingalls & Snyder LLC Cuts Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Ingalls & Snyder LLC lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,705 shares of the business services provider’s stock after selling 50 shares during the quarter. Ingalls & Snyder LLC’s holdings in S&P Global were worth $1,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of S&P Global by 107.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after acquiring an additional 2,962 shares during the last quarter. GDS Wealth Management raised its stake in shares of S&P Global by 7.0% during the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock worth $14,134,000 after purchasing an additional 1,801 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of S&P Global by 4.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 30,014 shares of the business services provider’s stock worth $13,386,000 after buying an additional 1,405 shares during the last quarter. BDF Gestion bought a new position in S&P Global during the second quarter valued at about $4,419,000. Finally, Pinnacle Financial Partners Inc increased its holdings in S&P Global by 3.9% during the third quarter. Pinnacle Financial Partners Inc now owns 47,705 shares of the business services provider’s stock worth $24,645,000 after buying an additional 1,806 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SPGI. Robert W. Baird boosted their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays increased their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Evercore ISI started coverage on S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price on the stock. Stifel Nicolaus increased their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, BMO Capital Markets lowered their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note 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 stock currently has an average rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Stock Performance

NYSE SPGI opened at $517.94 on Wednesday. The company’s 50 day simple moving average is $509.25 and its two-hundred day simple moving average is $486.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 1 year low of $407.69 and a 1 year high of $533.29. The stock has a market capitalization of $160.72 billion, a PE ratio of 45.71, a P/E/G ratio of 2.67 and a beta of 1.19.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the business posted $3.21 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is 32.13%.

S&P Global Company 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.