Cynosure Group LLC Sells 129 Shares of S&P Global Inc. (NYSE:SPGI)

Cynosure Group LLC reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,598 shares of the business services provider’s stock after selling 129 shares during the quarter. Cynosure Group LLC’s holdings in S&P Global were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPGI. HWG Holdings LP purchased a new stake in shares of S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in shares of S&P Global in the third quarter valued at $27,000. Sachetta LLC lifted its position in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. First Personal Financial Services purchased a new stake in S&P Global during the third quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 0.3 %

Shares of NYSE:SPGI opened at $521.96 on Wednesday. S&P Global Inc. has a 12-month low of $407.69 and a 12-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 stock has a fifty day simple moving average of $509.20 and a two-hundred day simple moving average of $483.76. The stock has a market capitalization of $161.96 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 2.66 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the company earned $3.21 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 32.13%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPGI shares. Barclays increased their target price 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. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered 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 research report on Friday, October 25th. Finally, Stifel Nicolaus increased their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently 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.