1776 Wealth LLC Decreases Holdings in S&P Global Inc. (NYSE:SPGI)

1776 Wealth LLC trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,082 shares of the business services provider’s stock after selling 58 shares during the quarter. 1776 Wealth LLC’s holdings in S&P Global were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global during the 3rd quarter valued at about $27,000. First Personal Financial Services purchased a new stake in S&P Global in the 3rd quarter worth about $29,000. Sachetta LLC raised 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 worth $29,000 after purchasing an additional 30 shares during the period. Capital Performance Advisors LLP purchased a new stake in S&P Global in the 3rd quarter worth about $31,000. Finally, HWG Holdings LP purchased a new stake in S&P Global in the 2nd quarter worth about $27,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SPGI shares. Robert W. Baird increased their price objective on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group increased their price objective on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley increased their price objective on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped 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. Finally, Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Stock Down 1.4 %

Shares of NYSE SPGI traded down $7.35 during midday trading on Friday, reaching $503.29. 1,187,616 shares of the company’s stock traded hands, compared to its average volume of 1,209,144. 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 stock’s 50 day simple moving average is $510.47 and its 200-day simple moving average is $478.74. S&P Global Inc. has a one year low of $401.79 and a one year high of $533.29. The company has a market cap of $156.17 billion, a price-to-earnings ratio of 44.42, a P/E/G ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its 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. 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 during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts predict that S&P Global Inc. will post 15.25 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.72%. S&P Global’s dividend payout ratio is currently 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.