Tower Bridge Advisors Reduces Stock Position in S&P Global Inc. (NYSE:SPGI)

Tower Bridge Advisors lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,906 shares of the business services provider’s stock after selling 72 shares during the quarter. Tower Bridge Advisors’ holdings in S&P Global were worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPGI. Capital International Investors increased its stake in S&P Global by 5.3% during the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after purchasing an additional 291,712 shares during the last quarter. Legal & General Group Plc lifted its holdings in S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after acquiring an additional 29,227 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares during the last quarter. Clearbridge Investments LLC boosted its stake in S&P Global by 1.4% in the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after acquiring an additional 20,624 shares during the period. Finally, Fayez Sarofim & Co grew its holdings in shares of S&P Global by 0.6% during the first quarter. Fayez Sarofim & Co now owns 1,458,141 shares of the business services provider’s stock valued at $620,366,000 after purchasing an additional 8,435 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Down 1.4 %

Shares of NYSE:SPGI opened at $503.29 on Friday. S&P Global Inc. has a twelve month low of $401.79 and a twelve month high of $533.29. 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 cap of $156.17 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a 50 day moving average of $510.47 and a 200-day moving average of $479.18.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share 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 during 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 revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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 dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.72%. S&P Global’s dividend payout ratio is currently 32.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI assumed coverage on shares of S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. JPMorgan Chase & Co. dropped their price objective 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. Barclays boosted their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average target price 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.