Pinnacle Financial Partners Inc Has $21.17 Million Position in S&P Global Inc. $SPGI

Pinnacle Financial Partners Inc trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,503 shares of the business services provider’s stock after selling 6,107 shares during the period. Pinnacle Financial Partners Inc’s holdings in S&P Global were worth $21,173,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in S&P Global during the second quarter worth about $26,000. MTM Investment Management LLC bought a new position in S&P Global in the second quarter valued at approximately $27,000. Spurstone Advisory Services LLC acquired a new position in shares of S&P Global during the 2nd quarter worth approximately $34,000. Howard Hughes Medical Institute bought a new stake in shares of S&P Global during the 2nd quarter worth approximately $36,000. Finally, Solstein Capital LLC bought a new stake in shares of S&P Global during the 2nd quarter worth approximately $38,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SPGI shares. Morgan Stanley raised their target price on shares of S&P Global from $620.00 to $627.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Stifel Nicolaus lowered their price objective on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, William Blair reiterated an “outperform” rating on shares of S&P Global in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $615.64.

S&P Global Price Performance

NYSE:SPGI opened at $546.25 on Friday. The company has a market cap of $165.40 billion, a P/E ratio of 39.73, a P/E/G ratio of 2.33 and a beta of 1.21. The firm’s fifty day moving average price is $511.03 and its two-hundred day moving average price is $517.23. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 30th. The business services provider reported $4.73 EPS for the quarter, topping the consensus estimate of $4.26 by $0.47. S&P Global had a net margin of 28.10% and a return on equity of 15.90%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $3.89 EPS. S&P Global’s revenue was up 8.8% compared to the same quarter last year. S&P Global has set its FY 2025 guidance at 14.800-15.050 EPS. Equities analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.97 per share. This is a boost from S&P Global’s previous quarterly dividend of $0.96. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, February 25th. S&P Global’s dividend payout ratio is presently 27.93%.

About S&P Global

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.