Red Spruce Capital LLC Decreases Stock Position in S&P Global Inc. (NYSE:SPGI)

Red Spruce Capital LLC lessened its position in shares of S&P Global Inc. (NYSE:SPGI) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,586 shares of the business services provider’s stock after selling 160 shares during the period. Red Spruce Capital LLC’s holdings in S&P Global were worth $790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPGI. HWG Holdings LP purchased a new position in S&P Global in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in S&P Global during the 3rd quarter valued at $27,000. First Personal Financial Services bought a new stake in shares of S&P Global in the third quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in shares of S&P Global during the third quarter valued at approximately $31,000. Finally, Voisard Asset Management Group Inc. lifted its position in shares of S&P Global by 77.1% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after purchasing an additional 27 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SPGI shares. Stifel Nicolaus boosted their price target on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Oppenheimer cut their target price on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. 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. Wells Fargo & Company cut their target price on S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets boosted their target price on S&P Global from $564.00 to $576.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.54.

S&P Global Stock Performance

NYSE:SPGI opened at $509.79 on Wednesday. The company has a fifty day simple moving average of $504.64 and a two-hundred day simple moving average of $501.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The company has a market cap of $158.19 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.21 EPS. As a group, equities analysts anticipate that S&P Global Inc. will post 15.3 earnings per share for the current fiscal year.

S&P Global Company 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.