S&P Global Inc. $SPGI Shares Sold by Avestar Capital LLC

Key Points

• Avestar Capital cut its S&P Global stake by 83.1% in the third quarter, retaining 1,505 shares valued at approximately $594,000. Institutional investors and hedge funds collectively own 87.17% of SPGI.
• S&P Global reported quarterly earnings of $4.58 per share on $3.68 billion in revenue, beating analyst expectations, while revenue increased 6.8% year over year.
• The company declared a quarterly dividend of $0.97 per share, equivalent to an annualized $3.88 payout and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $522.24.

Avestar Capital LLC cut its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 83.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,505 shares of the business services provider's stock after selling 7,394 shares during the quarter. Avestar Capital LLC's holdings in S&P Global were worth $594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SPGI. Bank of America Corp DE acquired a new stake in shares of S&P Global during the 2nd quarter worth approximately $865,892,000. EdgePoint Investment Group Inc. purchased a new stake in S&P Global in the 1st quarter worth about $702,911,000. Soroban Capital Partners LP grew its position in S&P Global by 260.3% during the first quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock valued at $718,247,000 after acquiring an additional 1,219,990 shares during the last quarter. Veritas Asset Management LLP bought a new position in shares of S&P Global in the 2nd quarter worth approximately $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in S&P Global in the second quarter worth approximately $164,700,000. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Trading Down 0.0%

NYSE:SPGI opened at $466.46 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.74. S&P Global Inc. has a one year low of $381.61 and a one year high of $552.25. The business has a fifty day moving average price of $421.62 and a 200-day moving average price of $431.64. The firm has a market capitalization of $135.23 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, topping the consensus estimate of $4.43 by $0.15. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.64 billion. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.73 earnings per share. Sell-side analysts forecast that S&P Global Inc. will post 17.89 EPS for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, November 25th. This represents a $3.88 dividend on an annualized basis and a yield of 0.8%. S&P Global's payout ratio is currently 23.14%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America dropped their target price on S&P Global from $575.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Robert W. Baird set a $513.00 target price on S&P Global in a research report on Wednesday, September 2nd. Evercore reiterated an "outperform" rating on shares of S&P Global in a report on Wednesday. Mizuho reduced their price objective on shares of S&P Global from $554.00 to $531.00 and set an "outperform" rating for the company in a report on Monday, October 5th. Finally, Stifel Nicolaus raised their price target on S&P Global from $489.00 to $521.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $522.24.

S&P Global Profile

S&P Global NYSE: SPGI is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.

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