Sit Investment Associates Inc. Sells 1,521 Shares of S&P Global Inc. (NYSE:SPGI)

Sit Investment Associates Inc. reduced its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,658 shares of the business services provider's stock after selling 1,521 shares during the period. Sit Investment Associates Inc.'s holdings in S&P Global were worth $8,794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPGI. Katamaran Capital LLP bought a new position in S&P Global during the 4th quarter valued at about $3,728,000. Resona Asset Management Co. Ltd. purchased a new stake in S&P Global during the 4th quarter valued at $49,407,000. Lynwood Price Capital Management LP bought a new stake in shares of S&P Global in the fourth quarter worth $6,126,000. Prudential PLC increased its position in S&P Global by 69.6% during the fourth quarter. Prudential PLC now owns 52,618 shares of the business services provider's stock valued at $26,205,000 after acquiring an additional 21,588 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in S&P Global by 13.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 524 shares of the business services provider's stock worth $261,000 after purchasing an additional 63 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SPGI shares. Bank of America began coverage on shares of S&P Global in a research note on Thursday. They issued a "buy" rating and a $600.00 price objective on the stock. Citigroup assumed coverage on shares of S&P Global in a research report on Friday, December 20th. They issued a "buy" rating and a $600.00 price target on the stock. BMO Capital Markets boosted their price objective on shares of S&P Global from $576.00 to $590.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Mizuho began coverage on S&P Global in a report on Wednesday, March 12th. They issued an "outperform" rating and a $599.00 target price on the stock. Finally, Evercore ISI lifted their target price on S&P Global from $599.00 to $608.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $595.14.

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S&P Global Price Performance

SPGI stock traded up $4.46 during midday trading on Friday, hitting $462.22. The company's stock had a trading volume of 375,550 shares, compared to its average volume of 1,240,052. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. The company has a 50 day moving average of $505.78 and a two-hundred day moving average of $506.52. The firm has a market capitalization of $145.06 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 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 period in the prior year, the company earned $3.13 EPS. On average, analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders 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 an increase from S&P Global's previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a yield of 0.83%. S&P Global's dividend payout ratio is 31.09%.

S&P Global 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.