Pitcairn Co. Cuts Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Pitcairn Co. cut its stake in S&P Global Inc. (NYSE:SPGI) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,146 shares of the business services provider’s stock after selling 265 shares during the period. Pitcairn Co.’s holdings in S&P Global were worth $5,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Human Investing LLC acquired a new position in S&P Global during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC purchased a new stake in shares of S&P Global during the 4th quarter worth $31,000. Hazlett Burt & Watson Inc. grew its stake in shares of S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Dunhill Financial LLC grew its stake in shares of S&P Global by 94.4% during the third quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock worth $36,000 after purchasing an additional 34 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in S&P Global by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock valued at $36,000 after buying an additional 63 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several analyst reports. Citigroup assumed coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective for the company. Morgan Stanley boosted their target price on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Oppenheimer lowered their price target on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI raised their price objective 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. Finally, Wells Fargo & Company upped their target price on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.86.

S&P Global Trading Up 0.7 %

Shares of S&P Global stock opened at $514.56 on Thursday. The company’s fifty day moving average is $515.43 and its two-hundred day moving average is $509.99. 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 $161.49 billion, a P/E ratio of 41.66, a PEG ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $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 company also recently announced 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. This represents a $3.84 dividend on an annualized basis and a yield of 0.75%. This is an increase from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, February 26th. S&P Global’s payout ratio is presently 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.