S&P Global Inc. (NYSE:SPGI) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,658 shares of the business services provider’s stock after selling 1,521 shares during the period. Sit Investment Associates Inc.’s holdings in S&P Global were worth $8,794,000 as of its most recent filing with the Securities & Exchange Commission.

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

S&P Global Stock Down 7.7 %

Shares of SPGI opened at $451.47 on Friday. 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 firm has a market cap of $141.69 billion, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company’s 50-day moving average price is $513.70 and its 200 day moving average price is $509.23. S&P Global Inc. has a 12-month low of $407.69 and a 12-month high of $545.39.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping the consensus estimate 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 posted $3.13 EPS. On average, sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were paid a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.85%. S&P Global’s payout ratio is presently 31.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Mizuho began coverage on shares of S&P Global in a research note on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective for the company. BMO Capital Markets raised their target price on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Oppenheimer dropped their price target on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Citigroup initiated coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.