Synergy Asset Management LLC Buys 13,068 Shares of S&P Global Inc. $SPGI

Synergy Asset Management LLC boosted its stake in S&P Global Inc. (NYSE:SPGI) by 103.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,693 shares of the business services provider’s stock after purchasing an additional 13,068 shares during the quarter. Synergy Asset Management LLC’s holdings in S&P Global were worth $13,530,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SPGI. Avantax Advisory Services Inc. boosted its stake in S&P Global by 4.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 21,457 shares of the business services provider’s stock worth $11,314,000 after purchasing an additional 850 shares during the period. Divergent Planning LLC acquired a new stake in shares of S&P Global in the 2nd quarter valued at about $303,000. Vanguard Group Inc. lifted its holdings in shares of S&P Global by 1.1% in the second quarter. Vanguard Group Inc. now owns 30,094,919 shares of the business services provider’s stock valued at $15,868,750,000 after purchasing an additional 315,916 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of S&P Global by 0.8% during the second quarter. Ninety One UK Ltd now owns 928,559 shares of the business services provider’s stock worth $489,620,000 after buying an additional 7,553 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of S&P Global by 6.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 12,456 shares of the business services provider’s stock worth $6,568,000 after buying an additional 733 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the topic of several research reports. Morgan Stanley boosted their target price on S&P Global from $615.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Citigroup lifted their price objective on shares of S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a report on Monday, September 15th. Evercore ISI increased their target price on shares of S&P Global from $619.00 to $629.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price 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. Finally, BMO Capital Markets set a $546.00 price target on shares of S&P Global in a research note on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $614.93.

S&P Global Trading Down 1.9%

NYSE SPGI opened at $512.69 on Friday. The company has a market cap of $155.24 billion, a PE ratio of 37.29, a PEG ratio of 2.45 and a beta of 1.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $579.05. The stock has a 50 day moving average of $501.09 and a 200-day moving average of $515.25.

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

About S&P Global

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.