Summit Financial LLC Sells 158 Shares of S&P Global Inc. (NYSE:SPGI)

Summit Financial LLC lowered its stake in S&P Global Inc. (NYSE:SPGI) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,443 shares of the business services provider’s stock after selling 158 shares during the period. Summit Financial LLC’s holdings in S&P Global were worth $5,699,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in S&P Global by 52.0% in the 4th quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock valued at $328,632,000 after buying an additional 225,370 shares during the period. Sanctuary Advisors LLC increased its stake in S&P Global by 12.6% in the third quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock valued at $14,198,000 after acquiring an additional 3,093 shares during the last quarter. Eastern Bank increased its stake in S&P Global by 3.1% in the fourth quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock valued at $24,980,000 after acquiring an additional 1,530 shares during the last quarter. Wealthfront Advisers LLC raised its position in S&P Global by 19.1% during the fourth quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider’s stock valued at $18,799,000 after purchasing an additional 6,051 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in S&P Global during the third quarter worth $27,170,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI boosted their price target on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Mizuho assumed coverage on shares of S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective for the company. Finally, Citigroup started coverage on shares of S&P Global in a research report on Friday, December 20th. They issued a “buy” rating and a $600.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $590.86.

S&P Global Price Performance

S&P Global stock opened at $502.33 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. S&P Global Inc. has a one year low of $407.69 and a one year high of $545.39. The stock’s 50 day moving average is $515.20 and its 200 day moving average is $510.10. The firm has a market cap of $157.65 billion, a P/E ratio of 40.67, a P/E/G ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $3.13 earnings per share. As a group, research analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were paid a dividend of $0.96 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 annualized dividend and a yield of 0.76%. This is a boost from S&P Global’s previous quarterly dividend of $0.91. 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.