Concurrent Investment Advisors LLC Boosts Position in S&P Global Inc. (NYSE:SPGI)

Concurrent Investment Advisors LLC grew its holdings in S&P Global Inc. (NYSE:SPGI) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,267 shares of the business services provider’s stock after acquiring an additional 58 shares during the period. Concurrent Investment Advisors LLC’s holdings in S&P Global were worth $3,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HWG Holdings LP purchased a new position in shares of S&P Global during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new position in S&P Global during the third quarter valued at approximately $27,000. Sachetta LLC raised its position in S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in S&P Global in the second quarter valued at approximately $31,000. Finally, Voisard Asset Management Group Inc. boosted its position in S&P Global by 77.1% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

SPGI opened at $489.53 on Thursday. S&P Global Inc. has a twelve month low of $382.12 and a twelve month high of $533.29. The firm has a market capitalization of $151.90 billion, a PE ratio of 43.21, a PEG ratio of 2.50 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $511.49 and its 200 day moving average price is $474.78.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business 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 business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.21 earnings per share. As a group, sell-side analysts expect that S&P Global Inc. will post 15.16 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 32.13%.

Wall Street Analyst Weigh In

SPGI has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Bank of America increased their target price on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Barclays lifted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Evercore ISI assumed coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target on the stock. Finally, Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Two equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

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.