Summit Financial LLC Raises Holdings in S&P Global Inc. (NYSE:SPGI)

Summit Financial LLC grew its position in shares of S&P Global Inc. (NYSE:SPGI) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,262 shares of the business services provider’s stock after purchasing an additional 29 shares during the quarter. Summit Financial LLC’s holdings in S&P Global were worth $1,437,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of S&P Global by 13.2% during the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after buying an additional 881,215 shares during the period. Morgan Stanley boosted its stake in shares of S&P Global by 8.2% during the third quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock worth $2,067,807,000 after buying an additional 428,737 shares during the period. Northern Trust Corp boosted its stake in shares of S&P Global by 1.6% during the third quarter. Northern Trust Corp now owns 3,275,029 shares of the business services provider’s stock worth $1,196,728,000 after buying an additional 52,560 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of S&P Global by 3.9% during the third quarter. Ameriprise Financial Inc. now owns 2,206,839 shares of the business services provider’s stock worth $798,821,000 after buying an additional 83,174 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of S&P Global by 24.4% during the fourth quarter. Mackenzie Financial Corp now owns 1,502,798 shares of the business services provider’s stock worth $662,013,000 after buying an additional 294,896 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $500.00 price objective on shares of S&P Global in a research report on Friday, February 9th. Oppenheimer raised their price objective on shares of S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. BMO Capital Markets raised their price objective on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Erste Group Bank restated a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $462.60.

S&P Global Price Performance

Shares of SPGI traded down $7.19 during mid-day trading on Thursday, reaching $409.01. 140,012 shares of the company’s stock were exchanged, compared to its average volume of 1,354,177. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $423.26 and a two-hundred day simple moving average of $418.76. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $461.16. The company has a market cap of $127.98 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 2.32 and a beta of 1.14.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.39 billion. On average, sell-side analysts predict 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. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 29th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.89%. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Insider Transactions at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $424.74, for a total value of $2,548,440.00. Following the completion of the sale, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

S&P Global Profile

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.