Congress Asset Management Co. Cuts Stock Position in S&P Global Inc. (NYSE:SPGI)

Congress Asset Management Co. reduced its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 36.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,474 shares of the business services provider's stock after selling 1,401 shares during the quarter. Congress Asset Management Co.'s holdings in S&P Global were worth $1,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in S&P Global by 163.5% in the third quarter. Exchange Traded Concepts LLC now owns 224 shares of the business services provider's stock worth $116,000 after buying an additional 139 shares during the last quarter. Creative Planning lifted its position in S&P Global by 13.0% in the third quarter. Creative Planning now owns 51,561 shares of the business services provider's stock worth $26,638,000 after buying an additional 5,913 shares during the last quarter. Swedbank AB lifted its position in S&P Global by 11.8% in the third quarter. Swedbank AB now owns 871,588 shares of the business services provider's stock worth $450,280,000 after buying an additional 92,115 shares during the last quarter. Global Retirement Partners LLC lifted its position in S&P Global by 13.2% in the third quarter. Global Retirement Partners LLC now owns 1,224 shares of the business services provider's stock worth $632,000 after buying an additional 143 shares during the last quarter. Finally, Howard Capital Management Group LLC lifted 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 worth $471,000 after buying an additional 28 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Down 0.4 %

Shares of S&P Global stock traded down $2.38 during trading on Friday, hitting $533.05. 1,335,113 shares of the stock traded hands, compared to its average volume of 1,359,665. The firm has a market cap of $164.07 billion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $545.39. The stock's fifty day simple moving average is $510.08 and its 200 day simple moving average is $509.03.

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 EPS for the quarter, beating 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 last year, the company earned $3.13 EPS. On average, equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from S&P Global's previous quarterly dividend of $0.91. S&P Global's payout ratio is 29.47%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group raised their price target on S&P Global from $610.00 to $640.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They issued a "buy" rating and a $600.00 target price on the stock. Oppenheimer reduced their target price 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. BMO Capital Markets increased their target price 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, StockNews.com lowered S&P Global from a "buy" rating to a "hold" rating in a research note on Thursday. Three equities research 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, S&P Global presently has an average rating of "Moderate Buy" and a consensus 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.