Ingalls & Snyder LLC Has $1.40 Million Position in S&P Global Inc. (NYSE:SPGI)

Ingalls & Snyder LLC cut its position in S&P Global Inc. (NYSE:SPGI) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,705 shares of the business services provider’s stock after selling 50 shares during the quarter. Ingalls & Snyder LLC’s holdings in S&P Global were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. HWG Holdings LP acquired a new stake in S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global during the third quarter worth $27,000. Sachetta LLC grew its stake in shares of S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. First Personal Financial Services acquired a new stake in S&P Global in the third quarter valued at $29,000. Finally, Hobbs Group Advisors LLC bought a new position in S&P Global during the 2nd quarter worth $31,000. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Stock Down 0.9 %

SPGI stock opened at $517.94 on Wednesday. The stock’s 50 day simple moving average is $509.25 and its 200 day simple moving average is $486.85. The company has a market cap of $160.72 billion, a P/E ratio of 45.71, a price-to-earnings-growth ratio of 2.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29.

S&P Global (NYSE:SPGI) last issued 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 company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid 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 dividend payout ratio (DPR) is 32.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPGI. Stifel Nicolaus increased their price target 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. Evercore ISI initiated coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Oppenheimer upped their price objective on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. BMO Capital Markets lowered their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Barclays upped their price target on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Profile

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.