Prosperity Financial Group Inc. Raises Holdings in S&P Global Inc. (NYSE:SPGI)

Prosperity Financial Group Inc. grew its position in shares of S&P Global Inc. (NYSE:SPGI) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,289 shares of the business services provider’s stock after buying an additional 241 shares during the period. Prosperity Financial Group Inc.’s holdings in S&P Global were worth $642,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SPGI. Raymond James Financial Inc. purchased a new position in shares of S&P Global during the 4th quarter valued at $527,207,000. Proficio Capital Partners LLC lifted its holdings in S&P Global by 71,024.1% during the 4th quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock worth $308,525,000 after purchasing an additional 618,620 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in S&P Global during the 3rd quarter worth about $224,976,000. FMR LLC lifted its holdings in S&P Global by 6.6% during the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after purchasing an additional 369,598 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in S&P Global during the 4th quarter worth about $144,091,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of S&P Global stock opened at $480.51 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $147.90 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The business’s 50-day moving average price is $514.52 and its 200-day moving average price is $511.46. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same period in the previous year, the company posted $3.13 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a $0.96 dividend. This is a boost from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, February 26th. S&P Global’s payout ratio is 31.09%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup assumed coverage on S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective on the stock. BMO Capital Markets upped their target price on S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Evercore ISI upped their target price on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Oppenheimer decreased their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $590.23.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.