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

Pinnacle Financial Partners Inc increased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 3.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,705 shares of the business services provider’s stock after acquiring an additional 1,806 shares during the period. Pinnacle Financial Partners Inc’s holdings in S&P Global were worth $24,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. Dupont Capital Management Corp lifted its stake in S&P Global by 27.1% in the first quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock worth $12,019,000 after acquiring an additional 6,025 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of S&P Global by 3.7% in the first quarter. Avantax Advisory Services Inc. now owns 8,935 shares of the business services provider’s stock valued at $3,801,000 after acquiring an additional 317 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in S&P Global by 2.2% during the first quarter. Bleakley Financial Group LLC now owns 6,521 shares of the business services provider’s stock worth $2,774,000 after acquiring an additional 138 shares during the period. Entropy Technologies LP boosted its position in shares of S&P Global by 32.3% during the 1st quarter. Entropy Technologies LP now owns 2,893 shares of the business services provider’s stock worth $1,231,000 after purchasing an additional 706 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in S&P Global by 23.2% in the first quarter. D Orazio & Associates Inc. now owns 595 shares of the business services provider’s stock valued at $253,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of recent research reports. Stifel Nicolaus raised their price objective 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. JPMorgan Chase & Co. dropped their target price 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. Bank of America lifted their target price on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their target price 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. Finally, UBS Group increased their price objective on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Down 0.8 %

Shares of NYSE SPGI opened at $503.38 on Wednesday. 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 12-month low of $392.69 and a 12-month high of $533.29. The company has a market cap of $156.20 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The firm’s 50-day simple moving average is $510.80 and its 200 day simple moving average is $477.67.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. On average, research analysts expect that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.72%. S&P Global’s dividend payout ratio is 32.13%.

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.