Massachusetts Financial Services Co. MA Sells 129,859 Shares of S&P Global Inc. (NYSE:SPGI)

Massachusetts Financial Services Co. MA lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 61.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,705 shares of the business services provider’s stock after selling 129,859 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in S&P Global were worth $41,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of S&P Global by 107.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after purchasing an additional 2,962 shares in the last quarter. GDS Wealth Management grew its position in shares of S&P Global by 7.0% in the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock worth $14,134,000 after buying an additional 1,801 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of S&P Global by 4.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 30,014 shares of the business services provider’s stock worth $13,386,000 after acquiring an additional 1,405 shares in the last quarter. BDF Gestion purchased a new position in S&P Global during the 2nd quarter valued at about $4,419,000. Finally, SVB Wealth LLC boosted its stake in S&P Global by 47.4% during the first quarter. SVB Wealth LLC now owns 5,159 shares of the business services provider’s stock worth $2,195,000 after acquiring an additional 1,659 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 0.6 %

SPGI opened at $514.46 on Monday. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $533.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $509.35 and a two-hundred day simple moving average of $482.51. The company has a market capitalization of $159.64 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. The business had revenue of $3.58 billion during 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 firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.21 EPS. Analysts forecast that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s payout ratio is currently 32.13%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus upped 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 note on Monday, October 28th. Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective for the company. BMO Capital Markets decreased 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 report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average price target of $571.31.

About S&P Global

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.