2,504 S&P Global Inc. $SPGI Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its stake in shares of S&P Global Inc. (NYSE:SPGI) by 244.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,529 shares of the business services provider’s stock after acquiring an additional 2,504 shares during the period. Provenance Wealth Advisors LLC’s holdings in S&P Global were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SPGI. Bank of America Corp DE acquired a new position in S&P Global during the second quarter worth approximately $865,892,000. EdgePoint Investment Group Inc. acquired a new position in shares of S&P Global in the 1st quarter valued at $702,911,000. Soroban Capital Partners LP grew its stake in shares of S&P Global by 260.3% during 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 buying an additional 1,219,990 shares during the period. Veritas Asset Management LLP purchased a new stake in shares of S&P Global during the 2nd quarter valued at $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of S&P Global during the 2nd quarter valued at $164,700,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Barclays lifted their target price on S&P Global from $553.00 to $572.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets lowered their price target on S&P Global from $505.00 to $500.00 and set an “outperform” rating for the company in a research report on Tuesday, October 13th. Morgan Stanley upped their price target on S&P Global from $477.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of S&P Global in a research note on Friday, October 2nd. Eighteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus target price of $523.35.

S&P Global Trading Down 2.0%

Shares of SPGI stock opened at $465.58 on Wednesday. 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 Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $552.25. The firm’s 50 day moving average price is $423.10 and its two-hundred day moving average price is $430.91. The stock has a market cap of $134.97 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.15. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 earnings per share. On average, analysts anticipate that S&P Global Inc. will post 17.89 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 25th. S&P Global’s dividend payout ratio is currently 23.14%.

S&P Global Profile

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.