S&P Global Inc. $SPGI Stake Lessened by Forefront Wealth Partners LLC

Forefront Wealth Partners LLC lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 48.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,786 shares of the business services provider’s stock after selling 1,709 shares during the quarter. Forefront Wealth Partners LLC’s holdings in S&P Global were worth $869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in S&P Global during the 2nd quarter valued at $2,188,945,000. Valeo Financial Advisors LLC raised its stake in shares of S&P Global by 70,734.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock worth $1,670,671,000 after buying an additional 3,163,938 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of S&P Global by 3,430.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,554,571 shares of the business services provider’s stock valued at $819,699,000 after buying an additional 1,510,540 shares during the period. TCI Fund Management Ltd. lifted its holdings in shares of S&P Global by 7.0% in the second quarter. TCI Fund Management Ltd. now owns 11,091,623 shares of the business services provider’s stock valued at $5,848,502,000 after buying an additional 730,354 shares during the period. Finally, ABN AMRO Bank N.V. bought a new position in S&P Global during the second quarter valued at about $310,348,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SPGI shares. Wells Fargo & Company boosted their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. reduced 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. BMO Capital Markets set a $546.00 target price on shares of S&P Global in a report on Friday, November 14th. William Blair reissued an “outperform” rating on shares of S&P Global in a research note on Monday, November 17th. Finally, Morgan Stanley raised 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. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat.com, S&P Global currently has a consensus rating of “Buy” and an average target price of $614.93.

S&P Global Price Performance

NYSE SPGI opened at $527.06 on Wednesday. The stock’s 50-day moving average price is $498.96 and its two-hundred day moving average price is $515.09. 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 company has a market cap of $159.59 billion, a PE ratio of 38.33, a PEG ratio of 2.75 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 earnings results on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. The company 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, analysts predict that S&P Global Inc. will post 17.11 EPS for the current 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.