Fortis Capital Management LLC Sells 748 Shares of S&P Global Inc. (NYSE:SPGI)

Fortis Capital Management LLC decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 33.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,499 shares of the business services provider’s stock after selling 748 shares during the quarter. Fortis Capital Management LLC’s holdings in S&P Global were worth $747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Human Investing LLC bought a new position in shares of S&P Global during the fourth quarter worth $30,000. Noble Wealth Management PBC bought a new position in shares of S&P Global during the fourth quarter worth $31,000. Dunhill Financial LLC lifted its position 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 valued at $36,000 after purchasing an additional 34 shares during the last quarter. Sound Income Strategies LLC lifted its position in S&P Global by 700.0% during the fourth 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 last quarter. Finally, BankPlus Trust Department bought a new position in S&P Global during the fourth quarter valued at $40,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPGI. Oppenheimer lowered their price objective on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. BMO Capital Markets increased their price objective on shares of S&P Global from $576.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Mizuho began 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 objective for the company. Evercore ISI increased their price objective on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price objective 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. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $590.86.

S&P Global Trading Up 0.1 %

SPGI stock opened at $497.62 on Friday. The company has a market capitalization of $153.17 billion, a PE ratio of 40.29, a P/E/G ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. The firm’s 50-day moving average is $513.85 and its 200 day moving average is $510.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping 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 period in the prior year, the firm posted $3.13 EPS. On average, research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current 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 paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.77%. The ex-dividend date was Wednesday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio (DPR) is currently 31.09%.

S&P Global 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.