Prospera Financial Services Inc Sells 160 Shares of S&P Global Inc. (NYSE:SPGI)

Prospera Financial Services Inc cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,858 shares of the business services provider’s stock after selling 160 shares during the period. Prospera Financial Services Inc’s holdings in S&P Global were worth $3,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPGI. Swedbank AB bought a new position in shares of S&P Global in the first quarter worth approximately $351,774,000. International Assets Investment Management LLC increased its position in shares of S&P Global by 174,815.4% in the third 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 last quarter. Assenagon Asset Management S.A. increased its position in shares of S&P Global by 352.2% in the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after purchasing an additional 360,909 shares during the last quarter. Third Point LLC bought a new position in shares of S&P Global in the first quarter worth approximately $142,526,000. Finally, Ameriprise Financial Inc. increased its position in shares of S&P Global by 13.5% in 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 purchasing an additional 298,645 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPGI has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” 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 research note on Friday, October 25th. Wells Fargo & Company upped their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets cut their target price 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. Finally, Stifel Nicolaus upped their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, S&P Global has an average rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Stock Performance

NYSE:SPGI opened at $503.12 on Thursday. The firm has a market cap of $156.12 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day moving average price of $509.61 and a 200-day moving average price of $480.93.

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 analysts’ consensus estimates 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 analyst estimates of $3.43 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that S&P Global Inc. will post 15.24 earnings per share 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. This represents a $3.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 32.13%.

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.