Fortitude Family Office LLC Has $65,000 Stake in S&P Global Inc. (NYSE:SPGI)

Fortitude Family Office LLC reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127 shares of the business services provider’s stock after selling 32 shares during the quarter. Fortitude Family Office LLC’s holdings in S&P Global were worth $65,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SPGI. Minot DeBlois Advisors LLC acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $25,000. Anderson Financial Strategies LLC purchased a new position in shares of S&P Global during the 4th quarter valued at $27,000. Human Investing LLC acquired a new position in shares of S&P Global in the fourth quarter worth $30,000. Noble Wealth Management PBC acquired a new position in shares of S&P Global in the fourth quarter worth $31,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of 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 acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SPGI shares. Argus raised S&P Global to a “strong-buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price target on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. UBS Group raised their price target on shares of S&P Global from $555.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. BMO Capital Markets upped their price objective on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Robert W. Baird lowered their price objective on S&P Global from $616.00 to $589.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $592.71.

S&P Global Stock Performance

NYSE SPGI opened at $513.89 on Thursday. The company’s fifty day moving average is $494.55 and its two-hundred day moving average is $504.34. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $157.61 billion, a price-to-earnings ratio of 41.61, a P/E/G ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last issued 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 firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.75%. The ex-dividend date was Wednesday, May 28th. S&P Global’s dividend payout ratio (DPR) is presently 30.16%.

Insider Transactions at S&P Global

In other news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by insiders.

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.