S&P Global Inc. (NYSE:SPGI) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,705 shares of the business services provider's stock after buying an additional 1,806 shares during the quarter. Pinnacle Financial Partners Inc's holdings in S&P Global were worth $24,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB bought a new position in shares of S&P Global during the 1st quarter worth $351,774,000. International Assets Investment Management LLC lifted its position in shares of S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider's stock worth $241,274,000 after purchasing an additional 466,757 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of S&P Global by 352.2% during the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider's stock valued at $206,669,000 after purchasing an additional 360,909 shares in the last quarter. Third Point LLC bought a new position in S&P Global in the first quarter worth approximately $142,526,000. Finally, Ameriprise Financial Inc. lifted its holdings in S&P Global by 13.5% during the second 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. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPGI has been the subject of several recent research reports. Bank of America boosted their price target on S&P Global from $530.00 to $540.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on S&P Global from $540.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Evercore ISI initiated coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $599.00 target price for the company. Finally, Robert W. Baird upped their price target on shares of S&P Global from $536.00 to $575.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of "Moderate Buy" and an average target price of $571.31.

S&P Global Stock Performance

NYSE:SPGI traded up $6.82 during trading hours on Wednesday, reaching $510.29. The company had a trading volume of 1,098,384 shares, compared to its average volume of 1,211,375. 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 $398.73 and a 1-year high of $533.29. The business's 50 day moving average price is $510.80 and its 200-day moving average price is $477.67. The firm has a market cap of $158.34 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) 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 analysts' expectations of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.21 EPS. Research analysts forecast that S&P Global Inc. will post 15.25 EPS for the current year.

S&P Global Announces Dividend

The firm also recently declared 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 is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global's dividend payout ratio is presently 32.13%.

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.