Camden National Bank Has $7.95 Million Stock Position in S&P Global Inc. (NYSE:SPGI)

Camden National Bank lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 15,390 shares of the business services provider’s stock after selling 255 shares during the period. Camden National Bank’s holdings in S&P Global were worth $7,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SPGI. HWG Holdings LP bought a new position in S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new position in S&P Global during the 3rd quarter worth approximately $27,000. Sachetta LLC boosted its stake in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. First Personal Financial Services bought a new position in S&P Global during the 3rd quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new position 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

NYSE SPGI opened at $514.37 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. 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 PE ratio of 45.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. The firm’s 50 day moving average is $509.35 and its 200-day moving average is $481.76.

S&P Global (NYSE:SPGI) last posted 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 company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the company earned $3.21 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is presently 32.13%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Wells Fargo & Company raised their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Oppenheimer raised their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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, S&P Global has a consensus rating of “Moderate Buy” and an average 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.