Edgewood Management LLC Sells 339,580 Shares of S&P Global Inc. (NYSE:SPGI)

Edgewood Management LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,582,599 shares of the business services provider’s stock after selling 339,580 shares during the quarter. S&P Global makes up approximately 5.1% of Edgewood Management LLC’s holdings, making the stock its 8th biggest holding. Edgewood Management LLC’s holdings in S&P Global were worth $1,784,242,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPGI. Human Investing LLC acquired a new stake in shares of S&P Global during the fourth quarter worth $30,000. Noble Wealth Management PBC bought a new position in S&P Global during the fourth quarter worth about $31,000. Hazlett Burt & Watson Inc. boosted its holdings in S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock worth $32,000 after buying an additional 38 shares during the last quarter. Dunhill Financial LLC grew its position in shares of S&P Global by 94.4% during the 3rd 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. Finally, Sound Income Strategies LLC increased its stake in shares of S&P Global by 700.0% in 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 during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SPGI shares. UBS Group lifted their price objective on shares of S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. 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 on the stock. StockNews.com cut shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Evercore ISI lifted their target price on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $590.86.

S&P Global Trading Down 7.7 %

NYSE SPGI opened at $451.47 on Friday. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $513.70 and its two-hundred day moving average price is $509.23. The stock has a market capitalization of $141.69 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $3.13 EPS. As a group, analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued a $0.96 dividend. This is a boost from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.85%. S&P Global’s dividend payout ratio (DPR) is presently 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.