Tidal Investments LLC Raises Stock Position in S&P Global Inc. (NYSE:SPGI)

Tidal Investments LLC lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 91.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,587 shares of the business services provider’s stock after purchasing an additional 27,565 shares during the period. Tidal Investments LLC’s holdings in S&P Global were worth $28,680,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPGI. Brookstone Capital Management purchased a new position in shares of S&P Global during the 4th quarter worth approximately $272,000. Goldstone Financial Group LLC increased its stake in shares of S&P Global by 10.0% during the 4th quarter. Goldstone Financial Group LLC now owns 561 shares of the business services provider’s stock worth $279,000 after purchasing an additional 51 shares in the last quarter. Procyon Advisors LLC increased its stake in shares of S&P Global by 8.2% during the 4th quarter. Procyon Advisors LLC now owns 3,166 shares of the business services provider’s stock worth $1,577,000 after purchasing an additional 241 shares in the last quarter. Chemistry Wealth Management LLC increased its stake in shares of S&P Global by 4.1% during the 4th quarter. Chemistry Wealth Management LLC now owns 4,766 shares of the business services provider’s stock worth $2,374,000 after purchasing an additional 186 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of S&P Global by 4.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 532 shares of the business services provider’s stock worth $265,000 after purchasing an additional 23 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Up 0.6%

Shares of SPGI opened at $522.36 on Friday. The firm has a market cap of $160.21 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company’s fifty day moving average is $487.94 and its two-hundred day moving average is $502.54. S&P Global Inc. has a fifty-two week low of $419.49 and a fifty-two week high of $545.39. 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 (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.14. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. S&P Global’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $4.01 EPS. Analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is presently 30.16%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SPGI shares. Evercore ISI raised their price objective on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Bank of America started coverage on shares of S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of S&P Global from $607.00 to $627.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.71.

Insider Activity at S&P Global

In related news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the transaction, the executive vice president now owns 5,131 shares in the company, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

S&P Global 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.