Permanent Capital Management LP Invests $826,000 in S&P Global Inc. $SPGI

Permanent Capital Management LP bought a new position in shares of S&P Global Inc. (NYSE:SPGI) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,698 shares of the business services provider’s stock, valued at approximately $826,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Emerald Advisers LLC raised its stake in shares of S&P Global by 2.0% in the second quarter. Emerald Advisers LLC now owns 911 shares of the business services provider’s stock valued at $480,000 after acquiring an additional 18 shares during the last quarter. Fullcircle Wealth LLC increased its holdings in S&P Global by 1.0% during the 2nd quarter. Fullcircle Wealth LLC now owns 1,748 shares of the business services provider’s stock valued at $984,000 after purchasing an additional 18 shares in the last quarter. Summitry LLC raised its position in S&P Global by 2.1% in the 2nd quarter. Summitry LLC now owns 883 shares of the business services provider’s stock valued at $466,000 after purchasing an additional 18 shares during the last quarter. Hamilton Capital LLC boosted its stake in S&P Global by 4.5% in the second quarter. Hamilton Capital LLC now owns 418 shares of the business services provider’s stock worth $220,000 after purchasing an additional 18 shares in the last quarter. Finally, Sand Hill Global Advisors LLC grew its holdings in shares of S&P Global by 3.1% during the second quarter. Sand Hill Global Advisors LLC now owns 632 shares of the business services provider’s stock worth $333,000 after purchasing an additional 19 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Trading Up 0.7%

SPGI opened at $529.41 on Monday. The firm has a 50 day simple moving average of $497.05 and a 200 day simple moving average of $514.74. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a market cap of $160.30 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SPGI. Wells Fargo & Company raised their target price on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Morgan Stanley raised their price objective on shares of S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. William Blair reiterated an “outperform” rating on shares of S&P Global in a research report on Monday, November 17th. BMO Capital Markets set a $546.00 price target on shares of S&P Global in a research note on Friday, November 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $614.93.

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.