Baron Wealth Management LLC Raises Stock Position in S&P Global Inc. (NYSE:SPGI)

Baron Wealth Management LLC boosted its position in shares of S&P Global Inc. (NYSE:SPGI) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,988 shares of the business services provider’s stock after acquiring an additional 117 shares during the period. S&P Global accounts for about 0.5% of Baron Wealth Management LLC’s holdings, making the stock its 25th biggest position. Baron Wealth Management LLC’s holdings in S&P Global were worth $1,027,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. HWG Holdings LP purchased a new position in S&P Global in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in S&P Global in the 3rd quarter worth approximately $27,000. Sachetta LLC grew its stake in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares in the last quarter. First Personal Financial Services purchased a new position in S&P Global in the 3rd quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.1 %

NYSE:SPGI opened at $503.00 on Tuesday. The firm’s 50-day moving average price is $510.21 and its 200-day moving average price is $480.23. The company has a market capitalization of $156.08 billion, a PE ratio of 44.40, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 1-year low of $407.53 and a 1-year high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating 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 company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the firm posted $3.21 EPS. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts predict that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPGI. Barclays upped their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. UBS Group upped their price objective on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. cut 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 research note on Friday, October 25th. Morgan Stanley upped their price objective on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer upped their price target on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.