Fortis Capital Management LLC Acquires 297 Shares of S&P Global Inc. (NYSE:SPGI)

Fortis Capital Management LLC increased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 15.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,247 shares of the business services provider’s stock after acquiring an additional 297 shares during the period. Fortis Capital Management LLC’s holdings in S&P Global were worth $1,161,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in S&P Global in the 1st quarter valued at about $351,774,000. International Assets Investment Management LLC increased its holdings in S&P Global by 174,815.4% during the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after purchasing an additional 466,757 shares during the period. Assenagon Asset Management S.A. raised its position in S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares in the last quarter. Third Point LLC purchased a new stake in shares of S&P Global in the 1st quarter worth $142,526,000. Finally, Ameriprise Financial Inc. grew its position in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SPGI shares. JPMorgan Chase & Co. cut their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. UBS Group lifted their price target on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus upped their price objective on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada boosted their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Trading Up 1.4 %

S&P Global stock opened at $510.29 on Thursday. S&P Global Inc. has a 52 week low of $398.73 and a 52 week high of $533.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $158.34 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The stock has a 50-day moving average price of $510.80 and a 200 day moving average price of $477.67.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $3.21 earnings per share. Sell-side analysts anticipate that S&P Global Inc. will post 15.25 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

About S&P Global

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.