Austin Private Wealth LLC Purchases New Stake in S&P Global Inc. (NYSE:SPGI)

Austin Private Wealth LLC acquired a new position in S&P Global Inc. (NYSE:SPGI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 451 shares of the business services provider’s stock, valued at approximately $233,000.

Other hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in S&P Global in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of S&P Global during the third quarter worth $27,000. Sachetta LLC boosted its position in shares of S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of S&P Global during the second quarter worth $31,000. Finally, Voisard Asset Management Group Inc. boosted its position in shares of S&P Global by 77.1% during the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after buying an additional 27 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several research analyst reports. Stifel Nicolaus raised 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. Wells Fargo & Company increased their price objective on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price target on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Up 0.8 %

SPGI opened at $489.70 on Wednesday. The business’s 50-day simple moving average is $511.80 and its 200-day simple moving average is $474.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global Inc. has a one year low of $381.33 and a one year high of $533.29. The stock has a market capitalization of $151.95 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.

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. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the company posted $3.21 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Analysts anticipate that S&P Global Inc. will post 15.16 EPS for the current 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. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 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.