Planning Capital Management Corp Decreases Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Planning Capital Management Corp reduced its stake in S&P Global Inc. (NYSE:SPGI) by 79.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84 shares of the business services provider’s stock after selling 334 shares during the quarter. Planning Capital Management Corp’s holdings in S&P Global were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. HWG Holdings LP purchased a new position in S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in S&P Global during the 3rd quarter worth $27,000. Sachetta LLC boosted its stake in S&P Global by 103.4% during 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 last quarter. First Personal Financial Services purchased a new position in shares of S&P Global during the 3rd quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in S&P Global in the 2nd quarter valued at about $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $510.64 on Friday. S&P Global Inc. has a one year low of $401.58 and a one year high of $533.29. The business’s 50-day simple moving average is $510.74 and its 200 day simple moving average is $477.90. 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 company has a market cap of $158.45 billion, a P/E ratio of 45.07, a PEG ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data 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. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the business earned $3.21 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SPGI shares. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on 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. Evercore ISI assumed coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. Royal Bank of Canada increased their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $571.31.

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.