S&P Global Inc. $SPGI Stock Position Decreased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,940 shares of the business services provider’s stock after selling 288 shares during the quarter. HBK Sorce Advisory LLC’s holdings in S&P Global were worth $1,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SPGI. Divergent Planning LLC purchased a new stake in S&P Global in the 2nd quarter worth about $303,000. Dynamic Advisor Solutions LLC lifted its stake in S&P Global by 6.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 12,456 shares of the business services provider’s stock worth $6,568,000 after acquiring an additional 733 shares in the last quarter. SCS Capital Management LLC purchased a new stake in S&P Global in the 1st quarter worth about $240,000. Foster Victor Wealth Advisors LLC lifted its stake in S&P Global by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 31,323 shares of the business services provider’s stock worth $16,562,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Northside Capital Management LLC purchased a new stake in S&P Global in the 2nd quarter worth about $975,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

SPGI has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Seaport Res Ptn raised S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of S&P Global in a research report on Wednesday, October 8th. Evercore ISI lifted their price objective on S&P Global from $613.00 to $619.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their price objective on S&P Global from $575.00 to $625.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $614.23.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $490.53 on Friday. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The business has a 50-day moving average of $508.81 and a two-hundred day moving average of $514.88. The stock has a market capitalization of $149.76 billion, a P/E ratio of 37.73, a P/E/G ratio of 2.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The company had revenue of $1.87 billion during the quarter. On average, equities research analysts predict that S&P Global Inc. will post 17.11 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 10th. Shareholders of record on Tuesday, November 25th will be given a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s payout ratio is currently 29.54%.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.