Fortis Capital Management LLC Cuts Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Fortis Capital Management LLC decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 33.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,499 shares of the business services provider’s stock after selling 748 shares during the period. Fortis Capital Management LLC’s holdings in S&P Global were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Headinvest LLC increased its holdings in S&P Global by 2.0% in the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock worth $515,000 after acquiring an additional 20 shares in the last quarter. EWA LLC boosted its stake in S&P Global by 4.2% during the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after purchasing an additional 20 shares during the last quarter. Continuum Advisory LLC boosted its stake in S&P Global by 1.3% during the 3rd quarter. Continuum Advisory LLC now owns 1,544 shares of the business services provider’s stock worth $788,000 after purchasing an additional 20 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in S&P Global by 2.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,034 shares of the business services provider’s stock worth $515,000 after purchasing an additional 20 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its stake in S&P Global by 3.1% during the 4th quarter. Personal CFO Solutions LLC now owns 674 shares of the business services provider’s stock worth $336,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.1 %

NYSE SPGI opened at $497.62 on Friday. The firm’s 50-day moving average is $513.85 and its two-hundred day moving average is $510.42. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $153.17 billion, a P/E ratio of 40.29, a PEG ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS 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 in the previous year, the company earned $3.13 EPS. On average, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The business 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 was Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.77%. This is a boost from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio is presently 31.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPGI shares. Wells Fargo & Company lifted their target price on shares of S&P Global from $617.00 to $633.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. UBS Group lifted their target price 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. Citigroup started coverage on shares of S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Evercore ISI lifted their target price on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, 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 target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $590.86.

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.