S&P Global Inc. (NYSE:SPGI) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors cut its position in S&P Global Inc. (NYSE:SPGI) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,906 shares of the business services provider’s stock after selling 72 shares during the quarter. Tower Bridge Advisors’ holdings in S&P Global were worth $4,601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPGI. HWG Holdings LP acquired a new position in S&P Global in the second quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in shares of S&P Global during the third quarter worth about $27,000. Sachetta LLC increased its position in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the period. First Personal Financial Services purchased a new stake in S&P Global during the 3rd quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in S&P Global during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SPGI shares. BMO Capital Markets dropped their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer upped their price objective on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their target price 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. Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. Finally, UBS Group lifted their price objective 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 assigned a buy rating to the company. According to data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Performance

Shares of SPGI stock opened at $503.29 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $156.17 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a 50 day moving average price of $510.47 and a 200 day moving average price of $479.18. S&P Global Inc. has a one year low of $401.79 and a one year 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. Sell-side analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) 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.