Dock Street Asset Management Inc. Trims Stake in S&P Global Inc. (NYSE:SPGI)

Dock Street Asset Management Inc. lessened its stake in S&P Global Inc. (NYSE:SPGI) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,834 shares of the business services provider’s stock after selling 395 shares during the period. S&P Global comprises approximately 1.8% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Dock Street Asset Management Inc.’s holdings in S&P Global were worth $15,356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in S&P Global by 52.0% during the fourth quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock worth $328,632,000 after buying an additional 225,370 shares in the last quarter. GDS Wealth Management boosted its stake in shares of S&P Global by 7.0% during the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock worth $14,134,000 after acquiring an additional 1,801 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of S&P Global by 12.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock valued at $14,198,000 after acquiring an additional 3,093 shares during the period. Eastern Bank grew its position in shares of S&P Global by 3.1% during the 4th quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock valued at $24,980,000 after acquiring an additional 1,530 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of S&P Global in the 3rd quarter valued at about $27,170,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SPGI shares. Wells Fargo & Company dropped their price objective on S&P Global from $620.00 to $617.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Citigroup assumed coverage on shares of S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus lifted their target price on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, UBS Group upped their price target on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.54.

S&P Global Trading Up 0.8 %

Shares of S&P Global stock opened at $518.52 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $505.92 and its 200-day simple moving average is $505.32. The stock has a market cap of $160.90 billion, a P/E ratio of 45.76, a P/E/G ratio of 2.40 and a beta of 1.20. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.74%. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s payout ratio is 32.13%.

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.