Cypress Capital Group Sells 132 Shares of S&P Global Inc. (NYSE:SPGI)

Cypress Capital Group trimmed its stake in S&P Global Inc. (NYSE:SPGI) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,586 shares of the business services provider’s stock after selling 132 shares during the quarter. Cypress Capital Group’s holdings in S&P Global were worth $2,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. HWG Holdings LP bought a new stake in shares of S&P Global in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in S&P Global during the third quarter worth approximately $27,000. Sachetta LLC raised its stake in S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares during the period. First Personal Financial Services acquired a new stake in shares of S&P Global in the third quarter valued at approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of S&P Global during the 2nd quarter worth approximately $31,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPGI. Wells Fargo & Company raised their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target 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. UBS Group increased their price target on shares of 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 boosted their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Morgan Stanley increased their target price on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $503.12 on Thursday. The company’s 50 day simple moving average is $509.61 and its 200 day simple moving average is $480.93. 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 $407.69 and a 1 year high of $533.29. The stock has a market capitalization of $156.12 billion, a price-to-earnings ratio of 44.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly 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 company had revenue of $3.58 billion during 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%. During the same quarter in the previous year, the firm earned $3.21 EPS. S&P Global’s revenue was up 15.9% on a year-over-year basis. As a group, research analysts predict that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Dividend Announcement

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