Cary Street Partners Asset Management LLC Acquires 47 Shares of S&P Global Inc. (NYSE:SPGI)

Cary Street Partners Asset Management LLC increased its stake in S&P Global Inc. (NYSE:SPGI) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585 shares of the business services provider’s stock after purchasing an additional 47 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in S&P Global were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPGI. Swedbank AB bought a new position in shares of S&P Global in the first quarter worth approximately $351,774,000. International Assets Investment Management LLC lifted its stake in shares of S&P Global by 174,815.4% during the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after buying an additional 466,757 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after buying an additional 360,909 shares during the period. Third Point LLC purchased a new stake in S&P Global in the 1st quarter worth $142,526,000. Finally, Ameriprise Financial Inc. raised its holdings in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Trading Up 0.8 %

Shares of NYSE SPGI opened at $489.70 on Wednesday. The stock has a market capitalization of $151.95 billion, a P/E ratio of 43.22, a PEG ratio of 2.48 and a beta of 1.18. S&P Global Inc. has a 1-year low of $381.33 and a 1-year high of $533.29. The business’s 50 day moving average is $511.80 and its two-hundred day moving average is $474.68. 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 (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion for 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%. S&P Global’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 EPS. As a group, research analysts expect that S&P Global Inc. will post 15.16 EPS for the current year.

S&P Global Announces Dividend

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

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of recent analyst reports. Bank of America upped their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer increased their price objective 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. Wells Fargo & Company boosted their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley raised their target price 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, Royal Bank of Canada boosted their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.