Summit Financial LLC Acquires 29 Shares of S&P Global Inc. (NYSE:SPGI)

Summit Financial LLC grew its holdings in S&P Global Inc. (NYSE:SPGI) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,262 shares of the business services provider’s stock after purchasing an additional 29 shares during the period. Summit Financial LLC’s holdings in S&P Global were worth $1,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SPGI. Valued Wealth Advisors LLC purchased a new stake in S&P Global during the fourth quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group increased its position in S&P Global by 64.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 25 shares during the last quarter. Fortis Group Advisors LLC purchased a new stake in S&P Global during the third quarter valued at $33,000. LFA Lugano Financial Advisors SA increased its position in S&P Global by 200.0% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 75 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in S&P Global during the third quarter valued at $35,000. Institutional investors own 87.17% of the company’s stock.

Insider Transactions at S&P Global

In other news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total value of $2,548,440.00. Following the transaction, the chief executive officer now directly owns 162,530 shares in the company, valued at approximately $69,032,992.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPGI shares. Oppenheimer upped their price target on S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. BMO Capital Markets upped their price target on S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Raymond James upped their price target on S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Finally, Barclays upped their price target on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $462.60.

S&P Global Price Performance

S&P Global stock traded down $7.19 during midday trading on Thursday, reaching $409.01. 140,012 shares of the stock traded hands, compared to its average volume of 1,354,177. The stock’s fifty day moving average is $423.26 and its 200-day moving average is $418.76. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $461.16. The stock has a market cap of $127.98 billion, a P/E ratio of 46.66, a PEG ratio of 2.32 and a beta of 1.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. As a group, equities research analysts anticipate that S&P Global Inc. will post 14.1 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $3.64 annualized dividend and a dividend yield of 0.89%. S&P Global’s payout ratio is 40.81%.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.