Edgewood Management LLC Reduces Position in S&P Global Inc. (NYSE:SPGI)

Edgewood Management LLC reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,582,599 shares of the business services provider’s stock after selling 339,580 shares during the quarter. S&P Global comprises 5.1% of Edgewood Management LLC’s portfolio, making the stock its 8th biggest holding. Edgewood Management LLC owned approximately 1.15% of S&P Global worth $1,784,242,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Human Investing LLC bought a new position in S&P Global in the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in shares of S&P Global in the fourth quarter worth $31,000. Hazlett Burt & Watson Inc. increased its position in 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 acquiring an additional 38 shares during the period. Dunhill Financial LLC raised its stake in S&P Global by 94.4% during the 3rd quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 34 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in S&P Global by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 63 shares during the period. 87.17% of the stock is currently owned by institutional investors.

S&P Global Price Performance

Shares of S&P Global stock opened at $451.47 on Friday. The stock has a market capitalization of $141.69 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 2.41 and a beta of 1.20. The firm’s 50-day moving average price is $513.70 and its two-hundred day moving average price is $509.23. 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 1-year low of $407.69 and a 1-year high of $545.39.

S&P Global (NYSE:SPGI) last released its quarterly 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 quarter last year, the firm posted $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 declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were given a dividend of $0.96 per share. This is an increase from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 annualized dividend and a yield of 0.85%. S&P Global’s dividend payout ratio is 31.09%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price target on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer decreased their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI raised their target price on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $590.86.

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.