CIBC Private Wealth Group LLC Trims Stock Position in S&P Global Inc. (NYSE:SPGI)

CIBC Private Wealth Group LLC cut its holdings in S&P Global Inc. (NYSE:SPGI) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 925,446 shares of the business services provider’s stock after selling 22,356 shares during the quarter. S&P Global makes up about 0.8% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 21st largest position. CIBC Private Wealth Group LLC owned approximately 0.30% of S&P Global worth $458,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. Human Investing LLC purchased a new stake in shares of S&P Global in the 4th quarter worth approximately $30,000. Noble Wealth Management PBC bought a new position in S&P Global in the fourth quarter worth approximately $31,000. Dunhill Financial LLC lifted its holdings in S&P Global by 94.4% during the third 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. Sound Income Strategies LLC boosted its position in S&P Global by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in S&P Global during the 4th quarter valued at $40,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer decreased their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Mizuho initiated coverage on shares of S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price target for the company. Evercore ISI lifted their price objective on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets lifted their price target on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $590.86.

S&P Global Stock Down 1.2 %

S&P Global stock opened at $502.33 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39. The business’s 50-day moving average price is $515.20 and its 200 day moving average price is $510.14. The firm has a market cap of $157.65 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter last year, the business posted $3.13 earnings per share. As a group, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s payout ratio is currently 31.09%.

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.