PineStone Asset Management Inc. Sells 15,575 Shares of S&P Global Inc. $SPGI

PineStone Asset Management Inc. decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 602,868 shares of the business services provider’s stock after selling 15,575 shares during the quarter. S&P Global makes up about 1.8% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. PineStone Asset Management Inc.’s holdings in S&P Global were worth $293,431,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

SPGI has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&P Global in a research report on Monday, December 22nd. Morgan Stanley boosted their target price on shares of S&P Global from $615.00 to $620.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Mizuho lifted their price objective on shares of S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $614.93.

S&P Global Stock Up 0.7%

SPGI stock opened at $529.41 on Friday. 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 debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $160.30 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.75 and a beta of 1.19. The business’s fifty day moving average price is $497.05 and its two-hundred day moving average price is $514.73.

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