Procyon Advisors LLC Grows Stock Position in S&P Global Inc. (NYSE:SPGI)

Procyon Advisors LLC lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 8.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,166 shares of the business services provider’s stock after acquiring an additional 241 shares during the period. Procyon Advisors LLC’s holdings in S&P Global were worth $1,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SPGI. HWG Holdings LP purchased a new position in S&P Global in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the third quarter valued at about $27,000. First Personal Financial Services purchased a new position in shares of S&P Global in the third quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in shares of S&P Global during the third quarter worth about $31,000. Finally, Voisard Asset Management Group Inc. boosted its position in S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Down 0.7 %

Shares of SPGI opened at $501.70 on Friday. The firm has a market cap of $155.68 billion, a P/E ratio of 44.28, a PEG ratio of 2.22 and a beta of 1.20. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $533.29. The stock’s 50 day moving average is $504.77 and its two-hundred day moving average is $500.39. 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 posted its quarterly earnings data 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. The business 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 revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. Analysts predict that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price 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. BMO Capital Markets lowered their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley lifted their price objective on S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $583.62.

About S&P Global

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.