Pinnacle Financial Partners Inc Raises Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Pinnacle Financial Partners Inc raised its position in S&P Global Inc. (NYSE:SPGI) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 48,251 shares of the business services provider’s stock after purchasing an additional 546 shares during the period. Pinnacle Financial Partners Inc’s holdings in S&P Global were worth $24,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Wellington Management Group LLP raised its stake in shares of S&P Global by 3.4% during the third quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock worth $4,581,580,000 after purchasing an additional 292,436 shares during the last quarter. Geode Capital Management LLC raised its position in S&P Global by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,473,774 shares of the business services provider’s stock worth $3,332,016,000 after acquiring an additional 113,146 shares in the last quarter. FMR LLC raised its position in S&P Global by 6.6% in the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after acquiring an additional 369,598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in S&P Global by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,713,617 shares of the business services provider’s stock worth $1,401,909,000 after acquiring an additional 28,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in S&P Global by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock worth $1,000,536,000 after acquiring an additional 26,300 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $533.05 on Friday. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. The stock has a market cap of $164.07 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 2.41 and a beta of 1.20. The stock’s 50 day moving average price is $510.08 and its 200 day moving average price is $509.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same period in the previous year, the company earned $3.13 EPS. Equities research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.96 per share. This is an increase from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, February 26th. S&P Global’s payout ratio is 29.47%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI upped their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Citigroup started coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 price objective on the stock. Robert W. Baird increased their price objective on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group increased their price objective on S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $590.23.

S&P Global Company 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.