Virtu Financial LLC Buys Shares of 3,393 S&P Global Inc. (NYSE:SPGI)

Virtu Financial LLC purchased a new position in S&P Global Inc. (NYSE:SPGI) in the third quarter, Holdings Channel reports. The fund purchased 3,393 shares of the business services provider’s stock, valued at approximately $1,753,000.

A number of other institutional investors also recently modified their holdings of the stock. GDS Wealth Management grew its stake in shares of S&P Global by 7.0% in the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after buying an additional 1,801 shares in the last quarter. Pinnacle Financial Partners Inc increased its position 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. Eagle Asset Management Inc. raised its holdings in S&P Global by 53.8% during the third quarter. Eagle Asset Management Inc. now owns 5,536 shares of the business services provider’s stock valued at $2,784,000 after buying an additional 1,936 shares in the last quarter. Blue Trust Inc. lifted its position in shares of S&P Global by 140.7% in the second quarter. Blue Trust Inc. now owns 3,800 shares of the business services provider’s stock worth $1,617,000 after buying an additional 2,221 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of S&P Global during the 3rd quarter worth about $3,056,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $512.95 on Friday. The business’s 50 day moving average is $509.45 and its 200-day moving average is $489.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $159.17 billion, a PE ratio of 45.27, a PEG ratio of 2.64 and a beta of 1.19. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29.

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 for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.43 billion. During the same quarter in the previous year, the company earned $3.21 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPGI. Stifel Nicolaus raised their price objective on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Evercore ISI initiated coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Barclays raised their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Morgan Stanley boosted their price objective on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group raised their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $573.23.

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.