Montecito Bank & Trust Acquires Shares of 497 S&P Global Inc. (NYSE:SPGI)

Montecito Bank & Trust acquired a new stake in S&P Global Inc. (NYSE:SPGI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 497 shares of the business services provider’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp grew its position in shares of S&P Global by 27.1% during the 1st quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock worth $12,019,000 after buying an additional 6,025 shares during the period. Norden Group LLC acquired a new stake in shares of S&P Global during the 1st quarter worth approximately $377,000. Duality Advisers LP acquired a new stake in shares of S&P Global during the 1st quarter worth approximately $733,000. Envestnet Portfolio Solutions Inc. grew its position in shares of S&P Global by 4.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 28,609 shares of the business services provider’s stock worth $12,172,000 after buying an additional 1,294 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of S&P Global by 51.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,950 shares of the business services provider’s stock worth $1,255,000 after buying an additional 997 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPGI shares. UBS Group boosted their price objective on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective 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 decreased their price objective on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barclays boosted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada boosted their price objective on shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Stock Performance

Shares of SPGI stock opened at $497.10 on Friday. 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 company’s fifty day simple moving average is $511.49 and its 200-day simple moving average is $474.78. S&P Global Inc. has a 12 month low of $382.12 and a 12 month high of $533.29. The firm has a market cap of $154.25 billion, a PE ratio of 43.87, a P/E/G ratio of 2.50 and a beta of 1.18.

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 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 firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts expect that S&P Global Inc. will post 15.16 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.73%. S&P Global’s dividend payout ratio is currently 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.