S&P Global Inc. (NYSE:SPGI) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,586 shares of the business services provider’s stock after selling 160 shares during the period. Red Spruce Capital LLC’s holdings in S&P Global were worth $790,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC acquired a new position in S&P Global during the 4th quarter valued at about $864,000. Atomi Financial Group Inc. lifted its stake in S&P Global by 35.1% during the fourth quarter. Atomi Financial Group Inc. now owns 1,615 shares of the business services provider’s stock valued at $804,000 after buying an additional 420 shares in the last quarter. Transform Wealth LLC boosted its position in shares of S&P Global by 3.1% in the fourth quarter. Transform Wealth LLC now owns 3,690 shares of the business services provider’s stock worth $1,838,000 after buying an additional 110 shares during the period. Clear Harbor Asset Management LLC increased its stake in S&P Global by 0.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 12,849 shares of the business services provider’s stock valued at $6,399,000 after buying an additional 93 shares during the period. Finally, Perpetual Ltd grew its stake in S&P Global by 4.3% in the fourth quarter. Perpetual Ltd now owns 158,826 shares of the business services provider’s stock valued at $79,100,000 after purchasing an additional 6,601 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPGI has been the subject of several recent analyst reports. Morgan Stanley upped their price target on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Stifel Nicolaus boosted their price target 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. Robert W. Baird upped their price target on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Evercore ISI started coverage on 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. Finally, Wells Fargo & Company lowered their price objective on shares of S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.54.

S&P Global Trading Up 1.6 %

S&P Global stock opened at $509.79 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 52-week low of $407.69 and a 52-week high of $533.29. The company has a market cap of $158.19 billion, a P/E ratio of 45.00, a P/E/G ratio of 2.32 and a beta of 1.20. The business has a 50-day simple moving average of $504.64 and a two-hundred day simple moving average of $501.86.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.43 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Analysts predict that S&P Global Inc. will post 15.3 EPS for the current year.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.