Summit Financial LLC Reduces Stock Position in S&P Global Inc. (NYSE:SPGI)

Summit Financial LLC lowered its holdings in shares of S&P Global Inc. (NYSE:SPGIFree Report) by 3.0% in the first quarter, Holdings Channel.com reports. The fund owned 3,163 shares of the business services provider’s stock after selling 99 shares during the quarter. Summit Financial LLC’s holdings in S&P Global were worth $1,346,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in S&P Global by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock valued at $2,769,787,000 after purchasing an additional 881,215 shares in the last quarter. Morgan Stanley raised its position in S&P Global by 8.2% during the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after purchasing an additional 428,737 shares in the last quarter. Capital International Investors raised its position in S&P Global by 12.6% during the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after purchasing an additional 616,732 shares in the last quarter. Norges Bank bought a new stake in S&P Global during the 4th quarter valued at $1,652,862,000. Finally, Northern Trust Corp raised its position in shares of S&P Global by 1.6% in the 3rd quarter. Northern Trust Corp now owns 3,275,029 shares of the business services provider’s stock worth $1,196,728,000 after acquiring an additional 52,560 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of S&P Global in a research report on Friday, February 9th. Stifel Nicolaus boosted their price target on S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Oppenheimer boosted their price target on S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays boosted their price target on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Erste Group Bank restated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $467.89.

Read Our Latest Analysis on S&P Global

S&P Global Stock Performance

S&P Global stock traded down $5.84 during trading hours on Thursday, hitting $436.46. 1,142,336 shares of the stock traded hands, compared to its average volume of 1,343,219. The firm’s 50 day moving average price is $424.46 and its 200-day moving average price is $426.78. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $461.16. The stock has a market capitalization of $136.57 billion, a price-to-earnings ratio of 48.93, a P/E/G ratio of 2.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

S&P Global (NYSE:SPGIGet Free Report) last announced its earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.39 billion. As a group, equities analysts expect that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th will be given a $0.91 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $3.64 annualized dividend and a yield of 0.83%. S&P Global’s payout ratio is 40.81%.

About S&P Global

(Free Report)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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