Main Street Financial Solutions LLC Decreases Stock Position in S&P Global Inc. (NYSE:SPGI)

Main Street Financial Solutions LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 58.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,371 shares of the business services provider’s stock after selling 3,337 shares during the quarter. Main Street Financial Solutions LLC’s holdings in S&P Global were worth $1,225,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HWG Holdings LP purchased a new position in S&P Global in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the third quarter valued at about $27,000. Sachetta LLC raised its stake in shares of S&P Global by 103.4% in the second 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 acquired a new stake in shares of S&P Global during the third quarter worth about $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of S&P Global during the second quarter worth about $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. BMO Capital Markets reduced their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target on the stock. Barclays lifted their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus upped their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Up 1.4 %

S&P Global stock opened at $510.29 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $158.34 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The business has a 50 day simple moving average of $510.80 and a 200-day simple moving average of $477.67. S&P Global Inc. has a 12 month low of $398.73 and a 12 month high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.21 EPS. On average, analysts anticipate that S&P Global Inc. will post 15.25 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is presently 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.