Professional Advisory Services Inc. Cuts Stock Position in S&P Global Inc. (NYSE:SPGI)

Professional Advisory Services Inc. lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,690 shares of the business services provider’s stock after selling 131 shares during the period. S&P Global accounts for approximately 2.0% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 29th biggest position. Professional Advisory Services Inc.’s holdings in S&P Global were worth $14,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. First National Corp MA ADV grew its holdings in S&P Global by 0.9% in the 3rd quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after buying an additional 20 shares in the last quarter. Kathleen S. Wright Associates Inc. boosted its stake in S&P Global by 25.0% during the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after buying an additional 20 shares during the period. Trust Point Inc. increased its holdings in S&P Global by 1.4% in the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 20 shares during the last quarter. Headinvest LLC raised its holdings in shares of S&P Global by 2.0% in the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after buying an additional 20 shares during the period. Finally, EWA LLC lifted its position in shares of S&P Global by 4.2% during the third quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

SPGI stock opened at $501.70 on Friday. The company has a 50-day simple moving average of $504.77 and a 200 day simple moving average of $500.39. 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 capitalization of $155.68 billion, a P/E ratio of 44.28, a PEG ratio of 2.22 and a beta of 1.20. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29.

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 (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SPGI shares. Citigroup initiated coverage on S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Robert W. Baird lifted their price target on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research 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 note on Monday, September 23rd. Finally, Oppenheimer decreased their price target on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus target price of $583.62.

S&P Global 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.