Pitcairn Co. Sells 870 Shares of S&P Global Inc. (NYSE:SPGI)

Pitcairn Co. cut its stake in S&P Global Inc. (NYSE:SPGI) by 7.7% in the third quarter, HoldingsChannel.com reports. The fund owned 10,411 shares of the business services provider’s stock after selling 870 shares during the period. Pitcairn Co.’s holdings in S&P Global were worth $5,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in shares of S&P Global by 23.6% during the 3rd quarter. Cerity Partners LLC now owns 181,868 shares of the business services provider’s stock valued at $93,957,000 after purchasing an additional 34,712 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in S&P Global by 11.7% during the third quarter. Great Valley Advisor Group Inc. now owns 591 shares of the business services provider’s stock valued at $305,000 after buying an additional 62 shares during the period. GenTrust LLC purchased a new stake in S&P Global during the third quarter valued at approximately $274,000. Stonebrook Private Inc. raised its position in S&P Global by 3.8% in the third quarter. Stonebrook Private Inc. now owns 1,952 shares of the business services provider’s stock worth $1,008,000 after acquiring an additional 72 shares during the period. Finally, Meridian Wealth Management LLC raised its position in S&P Global by 12.4% in the third quarter. Meridian Wealth Management LLC now owns 7,098 shares of the business services provider’s stock worth $3,667,000 after acquiring an additional 783 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets reduced their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Robert W. Baird lifted their price objective on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Oppenheimer boosted their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, UBS Group boosted their price objective on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Trading Up 0.6 %

SPGI stock opened at $514.37 on Friday. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. 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 company has a market capitalization of $159.61 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 2.61 and a beta of 1.18. The business has a 50 day simple moving average of $509.35 and a two-hundred day simple moving average of $481.76.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the company posted $3.21 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts anticipate that S&P Global Inc. will post 15.24 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 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.71%. S&P Global’s 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.