Meridian Wealth Management LLC Buys 783 Shares of S&P Global Inc. (NYSE:SPGI)

by · The Markets Daily

Meridian Wealth Management LLC raised its position in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,098 shares of the business services provider’s stock after buying an additional 783 shares during the quarter. Meridian Wealth Management LLC’s holdings in S&P Global were worth $3,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPGI. Legal & General Group Plc grew its stake in S&P Global by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after buying an additional 29,227 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 acquiring an additional 298,645 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of S&P Global by 1.4% during the third 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 acquiring an additional 26,300 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of S&P Global by 1.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after purchasing an additional 20,624 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in S&P Global by 4.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,396,304 shares of the business services provider’s stock worth $622,752,000 after purchasing an additional 57,159 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Up 0.6 %

SPGI stock opened at $514.37 on Friday. The firm has a market cap of $159.61 billion, a PE ratio of 45.40, a P/E/G ratio of 2.61 and a beta of 1.18. S&P Global Inc. has a one year low of $407.69 and a one year 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 firm’s fifty day moving average is $509.35 and its 200 day moving average is $481.76.

S&P Global (NYSE:SPGI – Get Free Report) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business 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 company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.21 earnings per share. On average, research analysts forecast that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given 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 (DPR) is presently 32.13%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPGI. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Oppenheimer increased their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets dropped their target price on 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. Finally, Wells Fargo & Company raised their price target 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus price target of $571.31.

Read Our Latest Research Report on S&P Global

S&P Global Company Profile

(Free Report)

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.

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