Kestra Investment Management LLC Invests $1.32 Million in S&P Global Inc. (NYSE:SPGI)

Kestra Investment Management LLC purchased a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the third quarter, HoldingsChannel.com reports. The firm purchased 2,552 shares of the business services provider’s stock, valued at approximately $1,318,000.

A number of other hedge funds also recently bought and sold shares of the business. HWG Holdings LP bought a new stake in shares of S&P Global in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in S&P Global in the third quarter valued at $27,000. Sachetta LLC increased its position in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 30 shares during the period. First Personal Financial Services bought a new position in S&P Global in the 3rd quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of S&P Global in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $522.51 on Friday. The company has a market capitalization of $162.13 billion, a PE ratio of 46.12, a PEG ratio of 2.67 and a beta of 1.18. The business has a fifty day moving average price of $509.21 and a 200-day moving average price of $485.36. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. 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 (NYSE:SPGI) last issued its earnings results 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 net margin of 25.80% and a return on equity of 13.72%. The business 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 company earned $3.21 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.70%. S&P Global’s dividend payout ratio is 32.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Robert W. Baird upped their target price on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus raised their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. UBS Group lifted their price target on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Oppenheimer increased their price objective on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.