S&P Global Inc. $SPGI Holdings Lowered by Progressive Investment Management Corp

Progressive Investment Management Corp trimmed its stake in S&P Global Inc. (NYSE:SPGI) by 1.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 27,609 shares of the business services provider’s stock after selling 287 shares during the period. S&P Global accounts for approximately 3.7% of Progressive Investment Management Corp’s portfolio, making the stock its 9th biggest position. Progressive Investment Management Corp’s holdings in S&P Global were worth $14,558,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stegent Equity Advisors Inc. grew its position in S&P Global by 3.1% during the 1st quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider’s stock worth $335,000 after purchasing an additional 20 shares during the last quarter. Foster Dykema Cabot & Partners LLC grew its position in S&P Global by 0.7% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 2,859 shares of the business services provider’s stock worth $1,453,000 after purchasing an additional 20 shares during the last quarter. Foster Group Inc. grew its position in S&P Global by 0.9% during the 2nd quarter. Foster Group Inc. now owns 2,237 shares of the business services provider’s stock worth $1,180,000 after purchasing an additional 20 shares during the last quarter. Quent Capital LLC grew its position in S&P Global by 1.9% during the 2nd quarter. Quent Capital LLC now owns 1,082 shares of the business services provider’s stock worth $571,000 after purchasing an additional 20 shares during the last quarter. Finally, Integrated Investment Consultants LLC lifted its stake in shares of S&P Global by 2.8% in the 1st quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider’s stock worth $387,000 after acquiring an additional 21 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Up 0.4%

Shares of NYSE SPGI opened at $473.76 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The firm has a 50-day moving average price of $521.74 and a 200 day moving average price of $513.26. The stock has a market capitalization of $144.64 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.49 and a beta of 1.19.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Monday, February 28th. The business services provider reported $2.33 EPS for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm had revenue of $1.87 billion during the quarter. Equities research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid a $0.96 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. S&P Global’s dividend payout ratio (DPR) is 29.54%.

Analyst Ratings Changes

Several analysts have recently commented on SPGI shares. BMO Capital Markets reduced their target price on shares of S&P Global from $621.00 to $558.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays raised their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. UBS Group raised their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, Oppenheimer raised their target price on shares of S&P Global from $567.00 to $592.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $614.23.

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.