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

Summit Financial LLC lowered its position in S&P Global Inc. (NYSE:SPGI) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 SEC filing.

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

S&P Global Stock Down 1.2 %

Shares of NYSE SPGI opened at $502.33 on Monday. The firm has a fifty day simple moving average of $515.20 and a two-hundred day simple moving average of $510.10. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. 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 capitalization of $157.65 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) 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 period in the prior year, the company earned $3.13 earnings per share. Equities analysts expect 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 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. The ex-dividend date was Wednesday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a dividend yield of 0.76%. S&P Global’s payout ratio is currently 31.09%.

Analyst Upgrades and Downgrades

SPGI has been the subject of several analyst reports. Oppenheimer cut their price target on shares of 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. Morgan Stanley boosted their target price 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. Evercore ISI raised their price target on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Mizuho began coverage on S&P Global in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price objective for the company. Finally, UBS Group raised their target price on shares of S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently 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.