Fortis Capital Management LLC Grows Stake in S&P Global Inc. (NYSE:SPGI)

Fortis Capital Management LLC increased its position in shares of S&P Global Inc. (NYSE:SPGI) by 15.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,247 shares of the business services provider’s stock after purchasing an additional 297 shares during the period. Fortis Capital Management LLC’s holdings in S&P Global were worth $1,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp increased its stake in shares of S&P Global by 27.1% in the 1st quarter. Dupont Capital Management Corp now owns 28,249 shares of the business services provider’s stock worth $12,019,000 after acquiring an additional 6,025 shares during the last quarter. Entropy Technologies LP increased its position in shares of S&P Global by 32.3% during the first quarter. Entropy Technologies LP now owns 2,893 shares of the business services provider’s stock valued at $1,231,000 after acquiring an additional 706 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in S&P Global by 3.5% in the 1st quarter. HBK Sorce Advisory LLC now owns 3,570 shares of the business services provider’s stock valued at $1,519,000 after purchasing an additional 122 shares during the last quarter. Wilkins Investment Counsel Inc. acquired a new position in S&P Global during the 1st quarter worth about $228,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in S&P Global by 1.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,077 shares of the business services provider’s stock valued at $1,309,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SPGI. Robert W. Baird raised their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays boosted their target price on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. UBS Group raised their price target on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their price objective on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, BMO Capital Markets lowered their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, S&P Global currently has a consensus rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Price Performance

S&P Global stock opened at $510.29 on Thursday. The business has a fifty day moving average of $510.80 and a two-hundred day moving average of $477.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $158.34 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a one year low of $398.73 and a one year high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the business posted $3.21 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts predict that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is currently 32.13%.

About S&P Global

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.