Axxcess Wealth Management LLC Lowers Stake in S&P Global Inc. (NYSE:SPGI)

Axxcess Wealth Management LLC lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,304 shares of the business services provider’s stock after selling 336 shares during the period. Axxcess Wealth Management LLC’s holdings in S&P Global were worth $1,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in S&P Global in the third quarter worth $27,000. First Personal Financial Services purchased a new stake in S&P Global in the 3rd quarter worth approximately $29,000. Sachetta LLC increased its holdings in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in S&P Global during the 3rd quarter valued at approximately $31,000. Finally, HWG Holdings LP bought a new position in shares of S&P Global during the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 0.9 %

S&P Global stock opened at $507.34 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 1-year low of $392.69 and a 1-year high of $533.29. The company has a market cap of $157.43 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The stock’s 50 day moving average price is $511.07 and its 200 day moving average price is $476.41.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. S&P Global’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts predict that S&P Global Inc. will post 15.25 EPS 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. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 32.13%.

Analyst Ratings Changes

A number of research firms have recently commented on SPGI. Oppenheimer increased their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Barclays raised their price target on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Royal Bank of Canada lifted their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on 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. According to MarketBeat, the company presently has an average 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.