Cadence Bank Trims Stock Position in S&P Global Inc. (NYSE:SPGI)

Cadence Bank trimmed its position in S&P Global Inc. (NYSE:SPGI) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,104 shares of the business services provider’s stock after selling 107 shares during the period. Cadence Bank’s holdings in S&P Global were worth $1,604,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in S&P Global by 6.6% in the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after buying an additional 369,598 shares during the period. Legal & General Group Plc grew its holdings in shares of S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after purchasing an additional 29,227 shares in the last quarter. Ameriprise Financial Inc. increased its stake in S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares during the period. Charles Schwab Investment Management Inc. boosted its position in S&P Global by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock valued at $1,000,536,000 after buying an additional 26,300 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of S&P Global by 1.4% in the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock worth $651,682,000 after acquiring an additional 20,624 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of SPGI opened at $522.96 on Thursday. The company has a market capitalization of $162.27 billion, a PE ratio of 46.16, a P/E/G ratio of 2.66 and a beta of 1.18. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $533.29. The company has a 50-day simple moving average of $509.26 and a 200-day simple moving average of $484.04. 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 (NYSE:SPGI) last released its quarterly earnings data 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 firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. S&P Global’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $3.21 EPS. Equities research analysts predict 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. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. S&P Global’s payout ratio is 32.13%.

Analysts Set New Price Targets

SPGI has been the subject of several recent research reports. BMO Capital Markets decreased their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target for the company. Stifel Nicolaus increased their price objective on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Oppenheimer lifted their price objective on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Company 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.