Progressive Investment Management Corp Sells 991 Shares of S&P Global Inc. (NYSE:SPGI)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of 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 worth $328,632,000 after purchasing an additional 225,370 shares during the period. Sanctuary Advisors LLC raised its stake in S&P Global by 12.6% during the third quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock worth $14,198,000 after buying an additional 3,093 shares during the last quarter. Eastern Bank lifted its holdings 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 buying an additional 1,530 shares during the period. Wealthfront Advisers LLC boosted 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 acquiring an additional 6,051 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in S&P Global during the 3rd quarter worth about $27,170,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Stock Performance

Shares of SPGI opened at $502.33 on Friday. The firm has a market capitalization 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 Inc. has a 52 week low of $407.69 and a 52 week high of $545.39. The stock has a 50 day moving average price of $515.20 and a two-hundred day moving average price of $510.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same quarter in the prior year, the company earned $3.13 earnings per share. Equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were given a dividend of $0.96 per share. This is a positive change 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 0.76%. The ex-dividend date was Wednesday, February 26th. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group increased their price target on S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. BMO Capital Markets lifted their price objective on shares of S&P Global from $576.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased 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. Finally, Evercore ISI lifted their price target on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average 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.