Kestra Private Wealth Services LLC Sells 1,273 Shares of S&P Global Inc. $SPGI

Kestra Private Wealth Services LLC lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,944 shares of the business services provider’s stock after selling 1,273 shares during the period. Kestra Private Wealth Services LLC’s holdings in S&P Global were worth $7,473,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SPGI. Bank of America Corp DE bought a new position in shares of S&P Global during the 2nd quarter worth approximately $865,892,000. EdgePoint Investment Group Inc. acquired a new stake in shares of S&P Global during the 1st quarter worth approximately $702,911,000. Soroban Capital Partners LP increased its stake in shares of S&P Global by 260.3% in the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider’s stock valued at $718,247,000 after acquiring an additional 1,219,990 shares in the last quarter. Veritas Asset Management LLP bought a new stake in shares of S&P Global in the 2nd quarter valued at $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of S&P Global in the 2nd quarter valued at $164,700,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Trading Up 3.3%

NYSE SPGI opened at $481.40 on Thursday. The company has a market cap of $139.56 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 2.21 and a beta of 1.03. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $552.25. The business has a 50 day moving average price of $424.06 and a 200-day moving average price of $430.59. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.54.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, October 27th. The business services provider reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.15. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the business earned $4.73 EPS. S&P Global’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts expect that S&P Global Inc. will post 17.89 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 25th. S&P Global’s dividend payout ratio (DPR) is 23.14%.

Analysts Set New Price Targets

SPGI has been the topic of a number of research reports. Robert W. Baird set a $513.00 target price on shares of S&P Global in a research report on Wednesday, September 2nd. BMO Capital Markets reduced their price target on shares of S&P Global from $505.00 to $500.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $510.00 price target on shares of S&P Global in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of S&P Global to a “hold” rating in a report on Saturday, September 5th. Finally, Barclays upped their price objective on shares of S&P Global from $553.00 to $572.00 and gave the company an “overweight” rating in a report on Monday. Eighteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $523.35.

About S&P Global

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.