Progressive Investment Management Corp Has $14.15 Million Holdings in S&P Global Inc. (NYSE:SPGI)

Progressive Investment Management Corp cut its stake in S&P Global Inc. (NYSE:SPGI) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,405 shares of the business services provider’s stock after selling 991 shares during the quarter. S&P Global makes up approximately 3.6% of Progressive Investment Management Corp’s investment portfolio, making the stock its 9th largest holding. Progressive Investment Management Corp’s holdings in S&P Global were worth $14,147,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DnB Asset Management AS lifted its holdings in S&P Global by 1.5% during the 4th quarter. DnB Asset Management AS now owns 259,003 shares of the business services provider’s stock worth $128,991,000 after purchasing an additional 3,802 shares during the last quarter. Pictet Asset Management Holding SA increased its position in S&P Global by 12.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 198,905 shares of the business services provider’s stock worth $99,061,000 after buying an additional 22,183 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of S&P Global by 7.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 271,405 shares of the business services provider’s stock worth $135,168,000 after buying an additional 19,441 shares in the last quarter. Broadway Wealth Solutions Inc. bought a new stake in shares of S&P Global in the fourth quarter valued at about $305,000. Finally, New Age Alpha Advisors LLC grew its stake in shares of S&P Global by 4,125.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 2,366 shares of the business services provider’s stock valued at $1,178,000 after acquiring an additional 2,310 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several analyst reports. UBS Group lifted their price objective on shares of S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their price target on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer lowered their price objective 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. Mizuho assumed coverage on S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 target price for the company. Finally, StockNews.com cut S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $590.86.

S&P Global Stock Down 1.2 %

SPGI stock opened at $502.33 on Friday. The firm has a 50-day moving average price of $515.20 and a 200-day moving average price of $510.21. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. 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 stock has a market capitalization of $157.65 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the company earned $3.13 EPS. As a group, equities research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were given a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a yield of 0.76%. S&P Global’s dividend payout ratio (DPR) is currently 31.09%.

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.