Stonegate Investment Group LLC Reduces Position in S&P Global Inc. (NYSE:SPGI)

Stonegate Investment Group LLC decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,471 shares of the business services provider’s stock after selling 57 shares during the quarter. Stonegate Investment Group LLC’s holdings in S&P Global were worth $733,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 price target on the stock. Evercore ISI started coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target for the company. Robert W. Baird increased their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their price objective on shares of 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 dropped their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $584.54.

S&P Global Price Performance

NYSE:SPGI opened at $520.54 on Wednesday. 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. The stock’s 50-day moving average price is $505.39 and its 200-day moving average price is $503.69. The stock has a market capitalization of $161.52 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be given a $0.96 dividend. This is a boost from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s payout ratio is 32.13%.

S&P Global Company 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.