Prestige Wealth Management Group LLC Has $479,000 Stock Position in S&P Global Inc. (NYSE:SPGI)

Prestige Wealth Management Group LLC cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 47.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 928 shares of the business services provider’s stock after selling 827 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in S&P Global were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in S&P Global by 107.2% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after purchasing an additional 2,962 shares in the last quarter. GDS Wealth Management raised its position in shares of S&P Global by 7.0% in the third quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after buying an additional 1,801 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in S&P Global by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 30,014 shares of the business services provider’s stock worth $13,386,000 after buying an additional 1,405 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in S&P Global by 3.9% during the third quarter. Pinnacle Financial Partners Inc now owns 47,705 shares of the business services provider’s stock worth $24,645,000 after buying an additional 1,806 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in S&P Global by 53.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,536 shares of the business services provider’s stock worth $2,784,000 after acquiring an additional 1,936 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SPGI shares. Oppenheimer increased their target price on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. 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 report on Wednesday, October 9th. UBS Group upped their price target on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets lowered their price objective on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Performance

S&P Global stock opened at $513.45 on Tuesday. The business has a 50 day moving average of $509.41 and a 200-day moving average of $489.01. The company has a market capitalization of $159.32 billion, a P/E ratio of 45.32, a P/E/G ratio of 2.64 and a beta of 1.19. 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.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.21 EPS. On average, equities research analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is presently 32.13%.

About S&P Global

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.