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

Provenance Wealth Advisors LLC lifted its position in shares of S&P Global Inc. (NYSE:SPGI) by 244.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,529 shares of the business services provider’s stock after purchasing 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 institutional investors and hedge funds have also made changes to their positions in SPGI. Bank of America Corp DE acquired a new stake in S&P Global during the 2nd quarter valued at $865,892,000. EdgePoint Investment Group Inc. acquired a new position in S&P Global in the 1st quarter worth $702,911,000. Soroban Capital Partners LP lifted its holdings in S&P Global by 260.3% in the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider’s stock worth $718,247,000 after buying an additional 1,219,990 shares in the last quarter. Veritas Asset Management LLP purchased a new position in S&P Global in the 2nd quarter valued at about $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in S&P Global in the 2nd quarter valued at about $164,700,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Down 2.0%

Shares of NYSE:SPGI opened at $465.58 on Wednesday. The firm has a market cap of $134.97 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03. The company has a fifty day simple moving average of $423.10 and a 200 day simple moving average of $430.91. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $552.25.

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

S&P Global Announces Dividend

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

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Barclays boosted their price target on S&P Global from $553.00 to $572.00 and gave the stock an “overweight” rating in a research note on Monday. Zacks Research raised S&P Global from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. UBS Group reduced their price target on S&P Global from $550.00 to $525.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Citigroup raised their price objective on S&P Global from $500.00 to $520.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $523.35.

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.