DAVENPORT & Co LLC Cuts Stock Holdings in S&P Global Inc. (NYSE:SPGI)

DAVENPORT & Co LLC lessened its stake in S&P Global Inc. (NYSE:SPGI) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,871 shares of the business services provider’s stock after selling 23 shares during the quarter. DAVENPORT & Co LLC’s holdings in S&P Global were worth $8,900,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Tritonpoint Wealth LLC boosted its holdings in S&P Global by 2.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 1,782 shares of the business services provider’s stock valued at $888,000 after acquiring an additional 51 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of S&P Global by 3.8% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,744 shares of the business services provider’s stock valued at $2,363,000 after purchasing an additional 173 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of S&P Global by 2.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,150 shares of the business services provider’s stock worth $4,557,000 after purchasing an additional 185 shares during the period. Independence Bank of Kentucky increased its position in S&P Global by 363.7% during the 4th quarter. Independence Bank of Kentucky now owns 10,006 shares of the business services provider’s stock worth $4,983,000 after purchasing an additional 7,848 shares in the last quarter. Finally, KG&L Capital Management LLC raised its holdings in S&P Global by 37.8% in the fourth quarter. KG&L Capital Management LLC now owns 820 shares of the business services provider’s stock valued at $408,000 after buying an additional 225 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Down 0.4 %

NYSE:SPGI opened at $521.44 on Monday. The company has a market cap of $161.80 billion, a PE ratio of 46.02, a P/E/G ratio of 2.38 and a beta of 1.20. The business’s 50 day moving average is $506.40 and its two-hundred day moving average is $504.59. 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.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s payout ratio is currently 33.89%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased 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 report on Thursday, December 12th. UBS Group raised their price objective on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. dropped their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company decreased their price target on S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $584.54.

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.