Cary Street Partners Asset Management LLC Grows Holdings in S&P Global Inc. (NYSE:SPGI)

Cary Street Partners Asset Management LLC grew its stake in shares of S&P Global Inc. (NYSE:SPGI) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 585 shares of the business services provider’s stock after purchasing an additional 47 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in S&P Global were worth $302,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after purchasing an additional 2,962 shares during the period. Quadrature Capital Ltd purchased a new stake in S&P Global in the first quarter worth about $2,236,000. O Shaughnessy Asset Management LLC grew its holdings in S&P Global by 21.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock worth $14,756,000 after acquiring an additional 6,162 shares in the last quarter. Nwam LLC increased its position in S&P Global by 45.5% during the 1st quarter. Nwam LLC now owns 1,043 shares of the business services provider’s stock valued at $446,000 after purchasing an additional 326 shares during the period. Finally, Banco Santander S.A. raised its holdings in shares of S&P Global by 38.9% in the 1st quarter. Banco Santander S.A. now owns 14,696 shares of the business services provider’s stock valued at $6,252,000 after purchasing an additional 4,114 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPGI. UBS Group increased their price objective on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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 for the company. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada increased their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Stock Up 0.8 %

SPGI stock opened at $489.70 on Wednesday. The stock has a market capitalization of $151.95 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. S&P Global Inc. has a 52 week low of $381.33 and a 52 week high of $533.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $511.80 and a 200 day moving average of $474.68.

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, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $3.21 earnings per share. Sell-side analysts forecast that S&P Global Inc. will post 15.16 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.74%. S&P Global’s payout ratio is presently 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.