Cadence Bank Decreases Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Cadence Bank lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,104 shares of the business services provider’s stock after selling 107 shares during the period. Cadence Bank’s holdings in S&P Global were worth $1,604,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SPGI. Northwest Investment Counselors LLC bought a new position in shares of S&P Global in the third quarter worth about $27,000. First Personal Financial Services bought a new position in S&P Global in the 3rd quarter worth about $29,000. Sachetta LLC increased 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 acquiring an additional 30 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of S&P Global during the third quarter worth approximately $31,000. Finally, HWG Holdings LP bought a new stake in shares of S&P Global during the second quarter valued at approximately $27,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.2 %

Shares of S&P Global stock opened at $522.96 on Thursday. The firm has a fifty day moving average price of $509.26 and a 200 day moving average price of $484.04. The stock has a market cap of $162.27 billion, a PE ratio of 46.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 1 year low of $407.69 and a 1 year high of $533.29.

S&P Global (NYSE:SPGI) last announced 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 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 the consensus estimate of $3.43 billion. During the same period in the prior year, the firm posted $3.21 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that S&P Global Inc. will post 15.24 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 yield of 0.70%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 32.13%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SPGI shares. BMO Capital Markets lowered their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company upped their price objective on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Robert W. Baird boosted their target price on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Oppenheimer raised their price target on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Profile

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.