Spinnaker Trust Acquires 40 Shares of S&P Global Inc. (NYSE:SPGI)

Spinnaker Trust raised its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,543 shares of the business services provider’s stock after acquiring an additional 40 shares during the period. Spinnaker Trust’s holdings in S&P Global were worth $797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPGI. First National Corp MA ADV increased its position in shares of S&P Global by 0.9% in the third quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after acquiring an additional 20 shares during the period. Kathleen S. Wright Associates Inc. lifted its stake in S&P Global by 25.0% in the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after acquiring an additional 20 shares during the period. Trust Point Inc. boosted its holdings in S&P Global by 1.4% in the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 20 shares in the last quarter. Sapient Capital LLC increased its position in S&P Global by 2.5% during the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 21 shares during the period. Finally, Chatham Capital Group Inc. raised its holdings in S&P Global by 0.5% in the 2nd quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after purchasing an additional 21 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price objective 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. BMO Capital Markets dropped their target price on shares of 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. Morgan Stanley raised their price target on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI started coverage on S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Price Performance

SPGI stock traded down $9.48 during mid-day trading on Wednesday, hitting $480.23. The company had a trading volume of 580,695 shares, compared to its average volume of 1,203,613. The company has a market capitalization of $149.02 billion, a price-to-earnings ratio of 43.22, a P/E/G ratio of 2.48 and a beta of 1.18. The company has a 50-day moving average price of $511.80 and a 200 day moving average price of $474.68. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12-month low of $382.12 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.21 earnings per share. On average, research analysts anticipate that S&P Global Inc. will post 15.16 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is 32.13%.

S&P Global 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.