Independence Bank of Kentucky Acquires 7,848 Shares of S&P Global Inc. (NYSE:SPGI)

Independence Bank of Kentucky boosted its stake in S&P Global Inc. (NYSE:SPGI) by 363.7% during the 4th quarter, Holdings Channel reports. The firm owned 10,006 shares of the business services provider’s stock after buying an additional 7,848 shares during the quarter. S&P Global makes up about 0.8% of Independence Bank of Kentucky’s holdings, making the stock its 26th biggest position. Independence Bank of Kentucky’s holdings in S&P Global were worth $4,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SPGI. Northwest Investment Counselors LLC bought a new position in S&P Global during the third quarter valued at $27,000. First Personal Financial Services bought a new stake in S&P Global during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP purchased a new position in shares of S&P Global during the third quarter valued at $31,000. Voisard Asset Management Group Inc. raised its holdings in shares of S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 27 shares in the last quarter. Finally, Dunhill Financial LLC lifted its stake in S&P Global by 94.4% in the third quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock worth $36,000 after acquiring an additional 34 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

SPGI opened at $521.44 on Friday. The firm’s 50-day moving average price is $506.40 and its 200-day moving average price is $504.48. The company has a market cap of $161.80 billion, a P/E ratio of 46.02, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $533.29.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.96 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.74%. S&P Global’s dividend payout ratio is presently 32.13%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group raised their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. BMO Capital Markets lifted their price target on S&P Global from $564.00 to $576.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Morgan Stanley upped their price objective on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Oppenheimer cut 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $584.54.

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.