Avidian Wealth Enterprises LLC Invests $212,000 in S&P Global Inc. (NYSE:SPGI)

Avidian Wealth Enterprises LLC acquired a new stake in S&P Global Inc. (NYSE:SPGI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 411 shares of the business services provider’s stock, valued at approximately $212,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of S&P Global in the 3rd quarter valued at $27,000. Sachetta LLC lifted its position in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares during the last quarter. HWG Holdings LP acquired a new stake in S&P Global in the second quarter valued at about $27,000. Voisard Asset Management Group Inc. grew its position in S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 27 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in S&P Global during the second quarter worth about $31,000. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Up 1.5 %

S&P Global stock opened at $497.10 on Friday. The firm has a market cap of $154.25 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 2.50 and a beta of 1.18. S&P Global Inc. has a 52-week low of $382.12 and a 52-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 firm has a 50 day moving average price of $511.49 and a two-hundred day moving average price of $474.78.

S&P Global (NYSE:SPGI) last announced its 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. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. S&P Global’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 earnings per share. Equities analysts predict that S&P Global Inc. will post 15.16 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.73%. S&P Global’s dividend payout ratio is currently 32.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SPGI shares. Stifel Nicolaus lifted their price target on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a report on Monday, October 28th. 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. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Morgan Stanley raised their price objective on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets lowered their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

About S&P Global

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.