Grimes & Company Inc. Decreases Position in S&P Global Inc. (NYSE:SPGI)

Grimes & Company Inc. lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 512 shares of the business services provider’s stock after selling 29 shares during the period. Grimes & Company Inc.’s holdings in S&P Global were worth $218,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SPGI. Ancora Advisors LLC boosted its holdings in S&P Global by 38.1% in the 3rd quarter. Ancora Advisors LLC now owns 232 shares of the business services provider’s stock worth $85,000 after buying an additional 64 shares during the period. Gotham Asset Management LLC boosted its holdings in S&P Global by 11.5% in the 3rd quarter. Gotham Asset Management LLC now owns 4,216 shares of the business services provider’s stock worth $1,541,000 after buying an additional 436 shares during the period. Eventide Asset Management LLC bought a new position in S&P Global in the 3rd quarter worth approximately $831,000. Waverly Advisors LLC boosted its holdings in S&P Global by 15.9% in the 3rd quarter. Waverly Advisors LLC now owns 948 shares of the business services provider’s stock worth $346,000 after buying an additional 130 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in S&P Global by 27.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 205 shares of the business services provider’s stock worth $75,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SPGI. Erste Group Bank reissued a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. BMO Capital Markets raised their price objective on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Barclays raised their price objective on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Oppenheimer raised their price objective on shares of S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research report on Friday, June 21st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $467.89.

S&P Global Trading Down 0.6 %

Shares of SPGI traded down $2.91 during trading hours on Friday, reaching $446.00. 3,028,270 shares of the company traded hands, compared to its average volume of 969,709. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $461.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $431.45 and its two-hundred day moving average price is $431.75. The company has a market capitalization of $139.55 billion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 2.50 and a beta of 1.15.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping the consensus estimate of $3.68 by $0.33. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. Equities research analysts predict that S&P Global Inc. will post 14.1 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 annualized dividend and a dividend yield of 0.82%. S&P Global’s dividend payout ratio is presently 40.81%.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.