Freestone Grove Partners LP Purchases Shares of 2,768 S&P Global Inc. (NYSE:SPGI)

Freestone Grove Partners LP acquired a new position in S&P Global Inc. (NYSE:SPGI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,768 shares of the business services provider’s stock, valued at approximately $1,379,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SPGI. Human Investing LLC bought a new stake in S&P Global during the fourth quarter valued at about $30,000. Noble Wealth Management PBC bought a new stake in S&P Global during the 4th quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. lifted its holdings in S&P Global by 131.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Sound Income Strategies LLC boosted its stake in S&P Global by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, BankPlus Trust Department purchased a new stake in S&P Global during the 4th quarter valued at approximately $40,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Trading Up 1.5 %

SPGI opened at $506.52 on Friday. S&P Global Inc. has a one year low of $419.49 and a one year high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $155.35 billion, a price-to-earnings ratio of 41.01, a P/E/G ratio of 2.41 and a beta of 1.23. The stock’s 50 day moving average price is $488.33 and its 200-day moving average price is $502.15.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.14. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $4.01 earnings per share. On average, equities analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPGI. BMO Capital Markets upped their target price on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Mizuho started coverage on S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective for the company. Wells Fargo & Company boosted their target price on S&P Global from $607.00 to $627.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com cut S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Bank of America initiated coverage on S&P Global in a report on Thursday, April 10th. They set a “buy” rating and a $600.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $592.71.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.