Summit Global Investments Raises Stake in S&P Global Inc. (NYSE:SPGI)

Summit Global Investments increased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,114 shares of the business services provider’s stock after buying an additional 354 shares during the period. Summit Global Investments’ holdings in S&P Global were worth $555,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Headinvest LLC grew its position in shares of S&P Global by 2.0% during the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after acquiring an additional 20 shares during the period. EWA LLC grew its holdings in S&P Global by 4.2% during the third quarter. EWA LLC now owns 498 shares of the business services provider’s stock valued at $254,000 after purchasing an additional 20 shares during the period. Continuum Advisory LLC increased its position in S&P Global by 1.3% in the third quarter. Continuum Advisory LLC now owns 1,544 shares of the business services provider’s stock worth $788,000 after buying an additional 20 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of S&P Global by 2.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,034 shares of the business services provider’s stock valued at $515,000 after buying an additional 20 shares during the period. Finally, Personal CFO Solutions LLC raised its stake in shares of S&P Global by 3.1% in the fourth quarter. Personal CFO Solutions LLC now owns 674 shares of the business services provider’s stock valued at $336,000 after buying an additional 20 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPGI shares. Mizuho initiated coverage on S&P Global in a report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price objective for the company. Morgan Stanley lifted their target price on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI upped their price target on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Oppenheimer reduced their price objective on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, StockNews.com lowered S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $590.86.

S&P Global Stock Up 1.2 %

SPGI stock opened at $504.00 on Tuesday. The company’s 50 day moving average is $514.28 and its 200 day moving average is $510.31. The stock has a market cap of $155.13 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $545.39.

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

S&P Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued 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 dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, February 26th. S&P Global’s dividend payout ratio is presently 31.09%.

S&P Global Profile

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.