AlphaCore Capital LLC Takes Position in S&P Global Inc. (NYSE:SPGI)

AlphaCore Capital LLC acquired a new stake in S&P Global Inc. (NYSE:SPGI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 399 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other hedge funds also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of 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 valued at $2,798,000 after purchasing an additional 2,962 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of S&P Global in the 1st quarter valued at about $2,236,000. GDS Wealth Management boosted its position in shares of S&P Global by 7.0% during the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after purchasing an additional 1,801 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake 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 purchasing an additional 1,405 shares during the period. Finally, BDF Gestion bought a new stake in S&P Global in the second quarter worth approximately $4,419,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. 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 report on Friday, October 25th. Barclays upped their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Robert W. Baird boosted their target price 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. Finally, Royal Bank of Canada increased their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, S&P Global has an average rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Trading Up 0.6 %

Shares of S&P Global stock opened at $514.37 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $509.35 and a 200 day simple moving average of $481.76. S&P Global Inc. has a 12-month low of $407.69 and a 12-month high of $533.29. The company has a market capitalization of $159.61 billion, a P/E ratio of 45.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.25. The firm 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 business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.21 EPS. On average, sell-side analysts anticipate that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 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.