Convergence Financial LLC Has $419,000 Stake in S&P Global Inc. (NYSE:SPGI)

Convergence Financial LLC reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 842 shares of the business services provider’s stock after selling 37 shares during the period. Convergence Financial LLC’s holdings in S&P Global were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SPGI. Swedbank AB raised its holdings in shares of S&P Global by 11.8% in the third quarter. Swedbank AB now owns 871,588 shares of the business services provider’s stock valued at $450,280,000 after purchasing an additional 92,115 shares during the last quarter. Howard Capital Management Group LLC grew its position in S&P Global by 3.2% in the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 28 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in S&P Global in the third quarter valued at $334,000. Fortitude Family Office LLC lifted its position in S&P Global by 93.9% during the 3rd quarter. Fortitude Family Office LLC now owns 159 shares of the business services provider’s stock worth $82,000 after buying an additional 77 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of S&P Global by 3.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,013 shares of the business services provider’s stock worth $523,000 after buying an additional 31 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Performance

Shares of SPGI stock opened at $528.65 on Thursday. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39. The company has a market capitalization of $162.72 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 2.41 and a beta of 1.20. The company has a 50-day simple moving average of $512.12 and a 200 day simple moving average of $510.22. 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 issued its quarterly earnings data 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 return on equity of 14.33% and a net margin of 27.12%. During the same quarter in the previous year, the firm earned $3.13 earnings per share. On average, sell-side analysts predict 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 will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.96 per share. This is a boost from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 annualized dividend and a yield of 0.73%. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group raised their price target on S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Oppenheimer dropped their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Citigroup assumed coverage on S&P Global in a report on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Evercore ISI boosted their target price on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $590.23.

S&P Global Company Profile

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.