S&P Global Inc. (NYSE:SPGI) Position Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 925,446 shares of the business services provider's stock after selling 22,356 shares during the quarter. S&P Global comprises 0.8% of CIBC Private Wealth Group LLC's portfolio, making the stock its 21st biggest position. CIBC Private Wealth Group LLC owned about 0.30% of S&P Global worth $458,891,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in 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 valued at $328,632,000 after purchasing an additional 225,370 shares in the last quarter. Sanctuary Advisors LLC grew 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 valued at $14,198,000 after buying an additional 3,093 shares in the last quarter. Eastern Bank grew 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 valued at $24,980,000 after buying an additional 1,530 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of S&P Global by 19.1% during the 4th quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider's stock valued at $18,799,000 after buying an additional 6,051 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in S&P Global during the 3rd quarter worth approximately $27,170,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

S&P Global Stock Performance

Shares of NYSE SPGI traded up $2.56 during midday trading on Tuesday, hitting $510.66. The company's stock had a trading volume of 979,511 shares, compared to its average volume of 1,218,371. 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 firm's fifty day moving average price is $515.34 and its 200-day moving average price is $510.02. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $545.39. The firm has a market cap of $160.26 billion, a P/E ratio of 41.35, a P/E/G ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) 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 period in the prior year, the business posted $3.13 EPS. On average, sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS 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. Stockholders of record on Wednesday, February 26th were given a dividend of $0.96 per share. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.75%. This is a positive change from S&P Global's previous quarterly dividend of $0.91. S&P Global's dividend payout ratio is currently 31.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup started coverage on shares of S&P Global in a research report on Friday, December 20th. They set a "buy" rating and a $600.00 target price on the stock. Morgan Stanley boosted their price objective 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. Oppenheimer lowered their target price on S&P Global from $590.00 to $580.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. BMO Capital Markets boosted their price target on S&P Global from $576.00 to $590.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, UBS Group lifted their price objective on S&P Global from $610.00 to $640.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $590.86.

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.