NewEdge Wealth LLC Cuts Stake in S&P Global Inc. (NYSE:SPGI)

NewEdge Wealth LLC reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 1.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,998 shares of the business services provider’s stock after selling 39 shares during the period. NewEdge Wealth LLC’s holdings in S&P Global were worth $1,991,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SPGI. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in S&P Global during the 3rd quarter worth approximately $224,976,000. FMR LLC increased its stake in S&P Global by 6.6% during the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after buying an additional 369,598 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in S&P Global during the 4th quarter worth approximately $144,091,000. Wellington Management Group LLP increased its stake in S&P Global by 3.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock worth $4,581,580,000 after buying an additional 292,436 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in S&P Global by 52.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 720,517 shares of the business services provider’s stock worth $358,839,000 after buying an additional 249,242 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 1.7 %

Shares of S&P Global stock opened at $534.09 on Friday. S&P Global Inc. has a 1 year low of $407.69 and a 1 year high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $164.39 billion, a P/E ratio of 43.25, a PEG ratio of 2.41 and a beta of 1.20. The company’s fifty day moving average is $513.75 and its two-hundred day moving average is $510.82.

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 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 quarter in the prior year, the company posted $3.13 EPS. Analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The firm 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 an increase from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, February 26th. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

Analyst Upgrades and Downgrades

Several research firms have commented on SPGI. Morgan Stanley boosted their price target on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of S&P Global from $617.00 to $633.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer lowered 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 report on Friday, January 3rd. StockNews.com cut shares of S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Citigroup began coverage on shares of S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 price target for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $590.23.

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.