Wedmont Private Capital Increases Stock Position in S&P Global Inc. (NYSE:SPGI)

Wedmont Private Capital lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,519 shares of the business services provider’s stock after buying an additional 332 shares during the period. Wedmont Private Capital’s holdings in S&P Global were worth $2,181,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. HWG Holdings LP purchased a new position in shares of S&P Global during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of S&P Global in the third quarter worth approximately $27,000. First Personal Financial Services purchased a new stake in shares of S&P Global during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in S&P Global during the third quarter worth about $31,000. Finally, Voisard Asset Management Group Inc. lifted its stake in shares of S&P Global by 77.1% during the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after purchasing an additional 27 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on SPGI. UBS Group increased their price target on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley lifted their target price on S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Robert W. Baird increased their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Citigroup initiated coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average price target of $583.62.

S&P Global Stock Performance

S&P Global stock traded down $1.18 during mid-day trading on Monday, reaching $481.54. The company had a trading volume of 506,359 shares, compared to its average volume of 1,182,805. The company has a 50 day moving average of $504.66 and a 200-day moving average of $499.88. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $533.29. The firm has a market cap of $149.42 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 2.53 and a beta of 1.20.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. On average, sell-side analysts expect that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

About S&P Global

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.