Cresset Asset Management LLC Sells 41,510 Shares of S&P Global Inc. (NYSE:SPGI)

Cresset Asset Management LLC cut its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 65.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,260 shares of the business services provider’s stock after selling 41,510 shares during the quarter. Cresset Asset Management LLC’s holdings in S&P Global were worth $11,086,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global in the 4th quarter valued at approximately $27,000. Human Investing LLC acquired a new stake in S&P Global in 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. Hazlett Burt & Watson Inc. grew its holdings in shares of S&P Global by 131.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock valued at $32,000 after buying an additional 38 shares during the period. Finally, Sound Income Strategies LLC increased its position 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 buying an additional 63 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

SPGI opened at $502.40 on Wednesday. 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 12-month low of $419.49 and a 12-month high of $545.39. The business has a 50 day moving average of $487.41 and a 200-day moving average of $501.72. The stock has a market cap of $154.09 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.41 and a beta of 1.23.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.14. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm posted $4.01 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.76%. S&P Global’s dividend payout ratio (DPR) is currently 30.16%.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus cut their price objective on S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company raised their target price on shares of S&P Global from $607.00 to $627.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. StockNews.com cut shares of S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $592.71.

S&P Global Company 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.