PNC Financial Services Group Inc. Has $356.55 Million Position in S&P Global Inc. (NYSE:SPGI)

PNC Financial Services Group Inc. increased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 0.2% during the third quarter, HoldingsChannel reports. The fund owned 690,164 shares of the business services provider’s stock after acquiring an additional 1,453 shares during the quarter. PNC Financial Services Group Inc.’s holdings in S&P Global were worth $356,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HWG Holdings LP acquired a new position in shares of S&P Global in the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of S&P Global during the third quarter worth approximately $27,000. Sachetta LLC raised its stake in shares of S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. First Personal Financial Services acquired a new position in shares of S&P Global in the 3rd quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in S&P Global during the 2nd quarter worth approximately $31,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

S&P Global stock opened at $503.00 on Tuesday. 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 firm has a market capitalization of $156.08 billion, a P/E ratio of 44.40, a PEG ratio of 2.57 and a beta of 1.18. The business has a 50-day moving average of $510.21 and a 200-day moving average of $480.23. S&P Global Inc. has a 1 year low of $407.53 and a 1 year high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the company earned $3.21 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on SPGI shares. BMO Capital Markets reduced their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada increased their price target on shares of 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 boosted their price objective on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $571.31.

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.