MAI Capital Management Decreases Position in S&P Global Inc. (NYSE:SPGI)

MAI Capital Management trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,605 shares of the business services provider’s stock after selling 1,829 shares during the period. MAI Capital Management’s holdings in S&P Global were worth $5,995,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudent Man Advisors LLC increased its stake in shares of S&P Global by 20.4% in the third quarter. Prudent Man Advisors LLC now owns 1,932 shares of the business services provider’s stock worth $998,000 after buying an additional 327 shares during the period. Thrivent Financial for Lutherans grew its holdings in S&P Global by 208.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 45,371 shares of the business services provider’s stock worth $23,440,000 after acquiring an additional 30,679 shares during the last quarter. Concord Asset Management LLC VA increased its position in shares of S&P Global by 5.3% in the third quarter. Concord Asset Management LLC VA now owns 578 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 29 shares during the period. Adero Partners LLC raised its stake in shares of S&P Global by 5.0% during the third quarter. Adero Partners LLC now owns 545 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 26 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its holdings in shares of S&P Global by 18.6% during the third quarter. GoalVest Advisory LLC now owns 153 shares of the business services provider’s stock worth $79,000 after purchasing an additional 24 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Performance

S&P Global stock opened at $502.31 on Wednesday. S&P Global Inc. has a twelve month low of $407.53 and a twelve month 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 company has a market capitalization of $155.87 billion, a P/E ratio of 44.33, a PEG ratio of 2.57 and a beta of 1.18. The stock’s 50 day moving average is $509.86 and its 200 day moving average is $480.77.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 earnings per share. On average, equities research analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently announced 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 yield of 0.72%. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

A number of research firms have commented on SPGI. Morgan Stanley upped their price target on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group upped 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. Robert W. Baird lifted their price target on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, S&P Global has an average rating of “Moderate Buy” and an average target price of $571.31.

About S&P Global

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.