NewEdge Wealth LLC Has $807,000 Holdings in S&P Global Inc. (NYSE:SPGI)

NewEdge Wealth LLC decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 9.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,831 shares of the business services provider’s stock after selling 186 shares during the period. NewEdge Wealth LLC’s holdings in S&P Global were worth $807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. D.B. Root & Company LLC increased its holdings in shares of S&P Global by 3.6% during the 4th quarter. D.B. Root & Company LLC now owns 662 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 23 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in S&P Global by 3.3% during the 4th quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 23 shares during the period. Allworth Financial LP increased its position in S&P Global by 1.8% in the 4th quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock worth $598,000 after buying an additional 24 shares during the period. Independence Bank of Kentucky increased its position in S&P Global by 1.7% in the 4th quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock worth $655,000 after buying an additional 25 shares during the period. Finally, GSG Advisors LLC increased its position in S&P Global by 1.2% in the 4th quarter. GSG Advisors LLC now owns 2,277 shares of the business services provider’s stock worth $979,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of SPGI stock opened at $408.57 on Wednesday. The stock’s fifty day simple moving average is $426.65 and its 200 day simple moving average is $415.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $130.85 billion, a price-to-earnings ratio of 49.64, a P/E/G ratio of 2.32 and a beta of 1.15. S&P Global Inc. has a one year low of $338.92 and a one year high of $461.16.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. S&P Global’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. On average, analysts expect that S&P Global Inc. will post 14.02 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were given a $0.91 dividend. This is an increase from S&P Global’s previous quarterly dividend of $0.90. The ex-dividend date was Monday, February 26th. This represents a $3.64 annualized dividend and a yield of 0.89%. S&P Global’s payout ratio is presently 44.23%.

Insider Buying and Selling at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total value of $2,548,440.00. Following the completion of the transaction, the chief executive officer now owns 162,530 shares in the company, valued at approximately $69,032,992.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays lifted their price target on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 price target on shares of S&P Global in a research report on Friday, February 9th. BMO Capital Markets lifted their price target on S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Erste Group Bank reissued a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Finally, Raymond James lifted their price objective on S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $464.22.

S&P Global Profile

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.