DAVENPORT & Co LLC Sells 1,173 Shares of S&P Global Inc. $SPGI

DAVENPORT & Co LLC cut its stake in S&P Global Inc. (NYSE:SPGI) by 6.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,867 shares of the business services provider’s stock after selling 1,173 shares during the period. DAVENPORT & Co LLC’s holdings in S&P Global were worth $8,209,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SPGI. Oliver Lagore Vanvalin Investment Group bought a new position in shares of S&P Global during the 2nd quarter valued at about $26,000. MTM Investment Management LLC bought a new position in S&P Global during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. eCIO Inc. bought a new stake in shares of S&P Global in the 1st quarter worth approximately $32,000. Finally, Activest Wealth Management lifted its holdings in shares of S&P Global by 3,250.0% in the 1st quarter. Activest Wealth Management now owns 67 shares of the business services provider’s stock worth $34,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho lifted their target price on shares of S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Citigroup lifted their price objective on S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a report on Monday, September 15th. BMO Capital Markets set a $546.00 target price on S&P Global in a research note on Friday, November 14th. Seaport Res Ptn upgraded S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price target on S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. Based on data from MarketBeat, S&P Global presently has an average rating of “Buy” and an average price target of $614.93.

S&P Global Stock Performance

S&P Global stock opened at $525.44 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $495.94 and a 200-day moving average of $514.63. The firm has a market cap of $159.10 billion, a P/E ratio of 38.21, a P/E/G ratio of 2.73 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.90% and a net margin of 28.10%. Sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Company Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.